OPEN BORDERS FACILITATE AMERICA’S RACE TO THE BOTTOM: “Cheap labor” is anything but cheap.

For decades the United States government, on all levels, has betrayed its own citizens, promoting open borders policies that have come to undermine national security, public safety, public health, and jobs and wages for American workers.

The massive influx of alien children who lack English language proficiency also has a profound impact on the education of American kids.  Increasingly schools across the United States are forced to provide costly ESL (English as a Second Language) services draining funds that could and should be used to provide quality education for American children.  Additionally, as autism rates soar and with it the growing need for special services and early intervention for such learning challenged children, money that should be spent on those vital programs that could help so many of those children live better and more productive lives is being used, instead, to fund those ESL programs for illegal aliens and frequently the children of illegal aliens who do not speak English in their homes.

When early intervention is withheld from at-risk students, the results are frequently catastrophic, yet with all of the emotional arguments posed by the immigration anarchists who call for compassion for illegal aliens, their calls for compassion utterly disregard the plight of American children. 

Open borders policies permit huge numbers of foreign workers to enter the United States and displace American workers, not because American’s “won’t do these jobs” as claimed by the duplicitous politicians, but because these foreign workers are willing to accept lower wages and worse conditions than would the American workers whom they displace.

We can all think back to the days when we were growing up and sought our very first jobs to provide us with some spending money, enabling us to put our foot on the bottom rung of the economic ladder.

We often encountered the conundrum of not being able to get a job without a reference.  In order to get a reference we had to have a previous employer vouch for us.  This made getting that very first job all the more difficult and, at the same time, all the more important.

I remember my first job, when I was 14 yeas old, working during my summer vacation in a Kosher delicatessen, a short bike ride from home in Brooklyn where I washed dishes, fried potatoes and served hot dogs at the counter, waited on tables and delivered sandwiches to the women who spent hours at the nearby beauty parlors.

It was exciting and empowering to be earning money instead of asking my parents for an allowance.  Although I didn’t realize it at the time, that job also provided me with an education in life lessons, teaching me to be responsible, punctual and take instructions from an employer.  That job also taught me the value of money, I was far less likely to squander money when I had to work so hard to earn it.

Finally, that job provided me with that important first reference that helped me get other jobs in the future as I climbed the economic ladder to a successful life.

Many of my friends also worked in nearby restaurants. Brooklyn has no shortage of great places to eat, often small “mom and pop” restaurants and everyone of those establishments routinely hired teenagers and college students who were desperate to earn money.

Today most of those jobs in all too many local restaurants and other businesses are not taken by teenage American kids, but but illegal aliens, thereby shutting out Americans.

Consequently, these American kids are often unable to get that first job that would mean so much to them and provide them with important life lessons including a sense of self-worth and empowerment.

Unable to find legitimate employment, some kids, particularly in the poor neighborhoods, resort to committing crimes to get their hands on some money to take a girl on a date or make purchases.  This often puts these teenagers on a trajectory that does not end well for them or for their communities, or for America.

Illegal alien day laborers often displace construction workers, resulting in massive unemployment for American and lawful immigrant workers, boosting the profits of their employers who hire them “off the books” and pay them extremely low wages.

The open-borders/immigration anarchists are quick to invoke arguments about the need for compassion.  The reality is that there’s no compassion in the exploitation of vulnerable foreign workers nor is there compassion in the destruction of wages and jobs for Americans.

Now with the legalization of marijuana in many cities and states across the United States the issue not being raised in the media is that inasmuch as many companies test their employees for illegal drugs, it is likely that those who are encouraged to smoke marijuana will lose their jobs, perhaps leading to the globalists claiming that not only are lazy Americans not willing to take physically demanding jobs, and too dumb to take hi-tech jobs but are now too stoned to take any jobs.

The displacement of American workers is not limited to the economic bottom rung jobs.  America has been increasingly importing computer programmers and other hi-tech workers from India and other countries to displace Americans.

The Democratic Party used to act in the interests of American workers and, as a part of their efforts to protect the jobs and wages of Americans, opposed the importation of foreign workers.  Today, the Democratic Party no longer represents American workers and, in fact, has come to betray American workers and their families.  Today’s Democratic Party insists on raising the minimum wage to $15.00 per hour to achieve “wage equality.”  This works out to an annual wage of slightly more than $30,000.  The question that is never asked, particularly by the mainstream media is: “with whom would these workers become equal?”

It would be one thing if they insisted on a $15.00 minimum wage to help America’s working poor.  But to tout that wage as a means of achieving “wage equality” should give all Americans cause for pause.

As I noted in an article I once wrote about the veiled attack on the middle class,

The Wage Equality Deception, Alan Greenspan the former Chairman of the Federal Reserve Bank, invoked the notion of wage equality way back on April 30, 2009 when he testified before the Senate Subcommittee on Immigration, Border Security and Citizenship that was, at that time, chaired by Chuck Schumer.

The subject of the hearing was “Comprehensive Immigration Reform in 2009, Can We Do It and How?”  Greenspan’s prepared testimony included this assertion:

But there is little doubt that unauthorized, that is, illegal, immigration has made a significant contribution to the growth of our economy. Between 2000 and 2007, for example, it accounted for more than a sixth of the increase in our total civilian labor force. The illegal part of the civilian labor force diminished last year as the economy slowed, though illegals still comprised an estimated 5% of our total civilian labor force. Unauthorized immigrants serve as a flexible component of our workforce, often a safety valve when demand is pressing and among the first to be discharged when the economy falters.

Some evidence suggests that unskilled illegal immigrants (almost all from Latin America) marginally suppress wage levels of native-born Americans without a high school diploma, and impose significant costs on some state and local governments.

Greenspan must not have gotten the memo- when America’s poorest workers suffer wage suppression they are likely to become homeless and, indeed, across the United States, homelessness has increased dramatically.  This not only creates chaos in the lives of the homeless and their children, but imposes severe economic burdens on cities that have to cope with this disaster.

Greenspan went on to state the United States must accede to Bill Gates’ demand for more H-1B visas as Gates noted in his testimony at a previous hearing, that we are “driving away the world’s best and brightest precisely when we need them most.” 

Where I come from, “the world’s best and brightest” are AMERICANS!  This is what is commonly referred to as “American Exceptionalism.”

Greenspan supported his infuriating call for many more H-1B visas by the following “benefits” for America and, as you will see, the last sentence of his outrageous paragraph addresses the notion of reducing “wage inequality” by lowering wages of middle class, highly educated Americans whom Greenspan had the chutzpah to refer to as “the privileged elite”!

Consider this excerpt from his testimony:

First, skilled workers and their families form new households. They will, of necessity, move into vacant housing units, the current glut of which is depressing prices of American homes. And, of course, house price declines are a major factor in mortgage foreclosures and the plunge in value of the vast quantity of U.S. mortgage-backed securities that has contributed substantially to the disabling of our banking system. The second bonus would address the increasing concentration of income in this country. Greatly expanding our quotas for the highly skilled would lower wage premiums of skilled over lesser skilled. Skill shortages in America exist because we are shielding our skilled labor force from world competition. Quotas have been substituted for the wage pricing mechanism. In the process, we have created a privileged elite whose incomes are being supported at noncompetitively high levels by immigration quotas on skilled professionals. Eliminating such restrictions would reduce at least some of our income inequality.

Generally, the prospect of high-paying jobs incentivized American students to go on to college and acquire costly and time-consuming educations to be qualified to take those exciting and well-paying jobs.  If wages for high-tech professionals are slashed, those jobs will no longer be attractive to Americans.

Greenspan, Schumer and their cohorts are determined to create a $15.00 per hour “standard wage” to be paid to all workers irrespective of education or the nature of their jobs.  This is called Communism! 

Many have said that the Democrats want to import immigrants who will vote for their candidates.

What is often overlooked is that the downward economic spiral caused by the massive influx of cheap alien labor pushes ever more beleaguered Americans to vote for the Democrats who promise to help the hapless, financially strapped Americans for whom, no matter how hard they may strive, the “American Dream” has become an unattainable dream.

EDITORS NOTE: This column with images originally appeared in FrontPage Magazine. It is republished with permission.

Why California’s 1% Dip in Homelessness Is No “Success Story”

If my friends on the left see this as an example of success, I’d hate to see their definition of failure.

I often write about the failure of government.

In other words, there’s lots of evidence that government spending makes things worse.

Needless to say, this puts a lot of pressure on folks who favor bigger government. They desperately want to find any type of success story so they can argue that increasing the size and scope of the public sector generates some sort of payoff.

And they got their wish. Check out the ostensibly good news in a story from the San Fransisco Chronicle:

Investing billions of dollars in affordable housing and homeless programs in recent years has apparently put the brakes on what had been a surge in California’s homeless population, causing it to dip by 1 percent this year, a federal report released Monday showed. …The report put California’s homeless population this year at 129,972, a drop of 1,560 in the number of people on the streets in 2017. …“I think San Francisco has shown that when targeted investments are made, we see reductions in homelessness here,” [Jeff Kositsky, head of the city’s Department of Homelessness and Supportive Housing], said. He pointed out that family, youth and chronic veterans homelessness dropped in the city’s last full count — although the number of chronically homeless people went up.

Maybe I’m not in the Christmas spirit, but I don’t see this as a feel-good story.

Are we really supposed to celebrate the fact that the government spent “billions of dollars,” and the net effect is that the homeless population dropped just 1 percent?

The story doesn’t contain enough details for precise measurements, but even if we assume “billions” is merely $2 billion, then it cost taxpayers close to $1.3 million to get one person off the street. For that amount of money, taxpayers could have bought each of them a mansion!

In other words, the program has been a rotten investment. Heck, it makes Social Security seem like a good deal by comparison.

To be sure, maybe the number isn’t quite so bad because we’re comparing multi-year outlays with a one-year change in the homeless population, though it’s possible the number is even worse because taxpayers actually coughed up far more than $2 billion.

The bottom line is that if my friends on the left see this as an example of success, I’d hate to see their definition of failure.

This article was reprinted with permission from International Liberty.

COLUMN BY

Daniel J. Mitchell

Daniel J. Mitchell

Daniel J. Mitchell is a Washington-based economist who specializes in fiscal policy, particularly tax reform, international tax competition, and the economic burden of government spending. He also serves on the editorial board of the Cayman Financial Review. 

EDITORS NOTE: This column by FEE, with images, is republished with permission. Image credit: Pixabay

The Myth That Standard Oil Was a ‘Predatory Monopoly’

In light of recent calls to enforce antitrust laws against Google, it is worth scrutinizing the argument behind antitrust regulation. As is often the case, these regulatory efforts hurt consumers more than they help.

Consider some history. The Sherman Antitrust Act was passed in 1890 against the backdrop of the nascent Industrial Revolution and the rise of big business in America. The ostensible rationale for antitrust regulation was to protect consumers from the “predatory pricing” of large companies. The theory holds that a company could cut its prices low enough to drive competition out of the marketplace. Then, when it corners a market, it could raise prices and exploit consumers. It’s a plausible-sounding theory. But almost never has it been documented in practice.

Take the case against Standard Oil, which is regarded today as textbook evidence of predatory monopoly power. In 1870, when it was in its early years, Standard Oil owned just 4 percent of the petroleum market. John D. Rockefeller, however, obsessed over improving efficiency and cutting costs. Through economies of scale and vertical integration, he vastly improved oil-refining efficiency. His business grew as a result.

By 1874, his share of the petroleum market jumped to 25 percent, and by 1880 it skyrocketed to about 85 percent. Meanwhile, the price of oil plummeted from 30 cents per gallon in 1869 to eight cents in 1885. Put simply, Rockefeller increased production and lowered prices while creating thousands of well-paid jobs along the way (he usually paid his workers significantly more than his competition did). His business was a model of free-market efficiency.

But neither his competitors nor the US Supreme Court seemed to take note. In 1911, the court declared Standard Oil a monopoly and ordered its breakup. Revealingly, as scholars have noted, the court made no mention of either predatory pricing or withholding production, as monopoly theory maintains. In fact, economist John S. McGee reviewed over 11,000 pages of trial testimony, including the charges brought by Standard Oil’s competitors. Publishing his findings in the Journal of Law and Economics, he concluded that there was “little to no evidence” of wrongdoing, adding that “Standard Oil did not use predatory price cutting to acquire or keep monopoly power.”

Furthermore, and also in contradiction to monopoly theory, Standard Oil’s share of the market had declined from close to 90 percent in the late 1800s to about 65 percent at the time of the court’s ruling. These facts, however, did not faze the judiciary. The court ruled that because Standard Oil had consolidated some 30 divisions under one single management structure it counted as a monopoly. In other words, Standard Oil did precisely the opposite of what monopoly theory maintains—it reduced rather than raised prices, it increased rather than cut production, it lost rather than “controlled” market share, and it paid its employees more rather than less than its competitors—yet the theory that Standard Oil engaged in “predatory practices” and “exploited” consumers has prevailed in our history books.

But the truth is the theory is as lacking as the evidence is scarce. First, it is incredibly risky for a company to artificially hold down its prices in hopes that it drives competitors out of the market. No company knows how long that might take—weeks, months, years? Who can afford that risk? Second, at any point a competitor could enter the market and force a predatory business to continue driving its prices down, thus inflicting even more financial pain. Third, artificially low prices encourage increased consumer demand, meaning a business that sells product below cost must step up its production to meet higher demand, accelerating its financial losses.

For these reasons, private monopolies are virtually non-existent in the historical record. Indeed, University of Hartford economics professor and antitrust expert Dominick Armentano reviewed 55 of the most famous antitrust cases in US history. In his landmark book, Antitrust and Monopoly: Anatomy of a Policy Failure, he concluded:

Antitrust policy in America is a misleading myth that has served to draw public attention away from the actual process of monopolization that has been occurring throughout the economy. The general public has been deluded into believing that monopoly is a free-market problem, and that the government, through antitrust enforcement, is on the side of the ‘angels.’ The facts are exactly the opposite. Antitrust…served as a convenient cover for an insidious process of monopolization in the marketplace.

In other words, the very antitrust policies that were designed to prevent monopolies have in fact created them. For example, economist Tom DiLorenzo documents that following the breakup of Standard Oil, the government created the Oil Division of the US Fuel Administration and the Federal Oil Conservation Board, effectively making the oil industry a government-protected monopoly.

While the purported purpose was to assure steady oil production during and after WWI, it, in fact produced the full repertoire of predatory monopoly policies: price fixing (at artificially high rates), the elimination of competition, inefficiency, corruption, and waste. Moreover, this pattern has been a consistent feature of antitrust policy. As Armentano notes, “the entire antitrust system—allegedly created to protect competition and increase consumer welfare—has worked, instead, to lessen business competition and lessen the efficiency and productivity associated with the free-market process.”

Thus, the record is clear: Antitrust has inflicted far more harm than good. Those calling to enforce it against Google ought to study that record. Doing so would encourage them to realize that antitrust policy is the problem and that applying it is far from a helpful solution.

COLUMN BY

David Weinberger

David Weinberger

David Weinberger previously worked at a public policy institution. He is currently a freelance writer. Follow him on Twitter @dweinberger03.Email him at dwdweinberger@gmail.com.

RELATED ARTICLE: Trump helping Europe cut the electric cord with Russia

EDITORS NOTE: This column with images by FEE is republished with permission.

How the ‘Zero-sum Struggle’ gave rise to Nationalism [Videos]

There has been much written about the polarization of politics in America and rise of nationalism particularly in Europe.

Much to the amazement of many Donald J. Trump was elected as President of the United States. His campaign slogan was Make America Great Again! At the same time the English people voted to leave the European Union. Both of these historic events inspired Hungary’s Prime Minister Viktor Orbán to state, “The era of liberal democracy is over.”

There is no better proof of the end of liberal democracy than when it’s strongest proponents state,

“[E]conomic or social change or some combination of the two” is “leading inevitably to dissatisfaction with liberal democracy and a readiness to embrace populist, illiberal, or even undemocratic alternatives.”

Sheri Berman’s article “How Liberalism Failed: After decades of relative stability, Western elites forgot how precious and precarious liberal democracy really is” in the Fall 2018 edition of Dissent Magazine provides an insightful analysis of the self-inflicted suicide of liberal democracy. Berman blames the fall of liberal democracy on two narratives:

  1. Economic change.
  2. Social change.

Berman begins by stating,

Today, the West is probably facing its greatest crisis since the end of the Second World War. Liberal democracy has faltered in Eastern Europe, is threatened by populists in Western Europe and the United States, and is being challenged by resurgent authoritarianism in Russia, China, and elsewhere.

Yoram Hazony, author of The Virtue of Nationalism, discuses the rise of nationalism globally in the below video titled “Why You Should Be a Nationalist”:

How has Liberal Democracy failed?

It has failed just as it failed in the former Soviet Union in 1989 and in Venezuela in 2018. Berman quotes The Captured Economy: How the Powerful Enrich Themselves, Slow Down Growth, and Increase Inequality by Brink Lindsey and Steven M. Teles:

“When people feel economically insecure, they grow more defensive, less open and generous, and more suspicious of ‘the Other.’ When life seems like a zero-sum struggle, gains by other groups are interpreted as losses by one’s own group.”

Nationalists want to undo the “captured economy.” President Trump’s administration has focused it’s efforts on reducing government control over the economy from unelected bureaucrats (the swamp), eliminating government regulations and ending policies that hinder individual growth and prosperity.

Berman notes that Lindsey and Teles argue:

[H]ow the misregulation of the financial sector enriched the financial elite and introduced unnecessary risks and distortions into the economy; how the expansion of copyright and patent protection has created “monopolies,” limited innovation, and showered “riches on a favored few”; how occupational licensing protects incumbent firms and favored professions and obstructs competition, entrepreneurship, and consumer interests; and how land-use regulations and zoning distort markets, hamper Americans’ ability to move where opportunity is, and instead redistribute wealth to “higher-income homeowners and the bankers who provide mortgage finance” to them.

Berman concludes, “Why has government acted in socially counterproductive and economically inefficient ways? Because it has been ‘captured’ by plutocrats who use economic resources to influence government policy in ways that rig the game even further.”

This idea of the “power of the plutocrats” is best explained in this short video featuring Columbia Law Professor Philip Hamburger:

How Immigration plays a key role in the “Zero-sum Struggle!”

Immigration has been a signature issue for President Trump and the growing numbers of nationalists in Europe, Australia, Africa and beyond. Berman notes how immigration/refugee resettlement has become a seminal issue in the Western world. Sasha Polakow-Suransky in his book Go Back to Where You Came From: The Backlash Against Immigration and the Fate of Western Democracy examines how immigration has roiled Western democracies” argues that liberal’s:

“[F]ailure to confront the real tensions and failures of integration, by pretending violent extremism and attacks on free speech were not problems, infuriated many voters and left them feeling abandoned by mainstream parties.”

When governments fail to protect the indigenous people of a nation they react by abandoning liberal Democratic policies like open borders, unfettered refugee resettlement, multiculturalism, diversity and inclusion. Tucker Carlson explains in the below video “Illegal Immigration: It’s About Power”:

Both Republicans, Libertarian, Social Democrats, Independents and Democrats need to wake up and smell the nationalism revolution. Failure to do so will cost them dearly.

RELATED ARTICLE: Ben Sasse’s Wise Counsel for a Lonely, Polarized Country

EDITORS NOTE: The videos from Prager University are republished with permission. The featured photo is by Randy Colas on Unsplash.

Trump, Money and the Fed

So who are these guys in this picture?Legendary author of The Creature from Jekyll Island”, researcher and film producer G. Edward Griffin, my good friend and founder of PollMole Dr.Richard Davis, (R.I.P.), Mad Max Mullen and oh a yeah, a much younger me, John Michael Chambers. This post, Trump, Money and the Fed lay the important groundwork and understanding for what President Trump has begun to take on.

Back in 2009 as the founder of the Save  America Foundation a 501(c)(4), we held a large convention in Tampa, Florida sounding the alarm bells in our desperate individual and collective attempts to save America. fast forward. Donald Trump has blasted onto  the scene. Some say he cannot handle the storm when in fact he is the storm. This really is a very important article. Please read on and share this post. People need to know to secure and expand our supportive base for President Trump for what lies ahead by end of Q1 2019, will be challenging.

The following has been excerpted and somewhat revised and edited from a book I wrote in 2014-2015 while in Belize and mostly in Thailand titled, “Misconceptions and Course Corrections”. Since Trump has begun taking on the Fed (Federal Reserve), I thought it would be good to gain a better understanding of what money actually is, who the Fed is, how they came to be and what it is that they have done. This is about to come to be challenged and changed forever beginning after in 2019. I will be writing about this historical event as it unfolds. It has already begun. But for those that need a better understanding of the Fed, I have resurrected this chapter. Here goes…

What is Money?

What is money? Money is an idea backed by confidence,which is used as a means of exchange, rather than say barter. Today we live in a debt based monetary system. Some say that money is the root of all evil; I disagree with this. There was a period of time many a moon ago where money did not exist, yet there was plenty of evil around. My best guess (I could be wrong), is that people who misuse life’s energy are the root of all evil, not money. Money is not evil and abundance is wonderful; there are evil people.

In this world it seems we have assigned power to money. It’s a pretty big agreement since everyone seems to be trying to acquire the stuff. So to that end, money is power in the sense that it is the means by which one can acquire tangible items, own things, have things,influence people and agendas, as well as affording perhaps better healthcare,better food, some things luxury, and all things essential to survival. Money allows one to participate in many things as well as to travel. The person with money can also take advantage of various opportunities to explore many new aspects and experiences in life than a person without money. Having said all that, money is still not the measure of the man (woman).

Money can’t buy contentment or happiness or love, but it can ease the experience of life and living if handled properly.There is nothing wrong with acquiring great wealth. It’s what you do with this great wealth that helps determine the character of the person. Some people, as we know, become very greedy and misuse the power that comes with having lots ofmoney, and this can be seen in many ways. Others put that money to good use,such as a quality home, education for children and young adults, trust accountsfor posterity, and many are philanthropic or charitable.

History, Digging in a Little Deeper

Presently and since 1944, the U.S. dollar is the world’s reserve currency, and this, coupled with a great change that is currently taking place which will affect every person on the planet (which we will discuss a bit further on), is why we must understand more about the U.S.dollar and the debt based monetary system.

Many Americans and people throughout the world believe that the Federal Reserve in the United States is part of the Federal government. Nothing could be further from the truth. The Federal Reserve is no more a government agency than Federal Express! Check this video at marker1:09. Even former Fed chairman AlanGreenspan agrees.Freedom to Fascism, in case you missed all those years ago, can be viewed here. An absolute must see.

It is imperative if you want to understand how the money system works that you procure a copy of “The Creature from Jekyll Island,” a second look at the Federal Reserve by the legendary author, researcher, and film producer, Mr. G.Edward Griffin. This book will outline in great detail the formation of the Federal Reserve System.Below is a summary.

1910

In November of 1910, on Jekyll Island,Georgia, seven men who represented directly or indirectly one fourth of the world’s wealth, met in secrecy for nine days. It is there, at this location,where the Charter of the Federal Reserve was drafted. The Federal Reserve is a privately held for profit corporation,a banking cartel. The main objective for a corporation is to make a profit, and they do indeed make a profit. Let’s take a brief stroll through history as we look into the formation of the Federal Reserve and the results of the Federal Reserve Charter that was enacted into law by the U.S. Congress in1913.

J.P. Morgan, Senator Nelson Aldrich, Piatt Andrews, Frank Vanderlip, Henry P. Davison, Paul Warburg, and Charles D.Norton arranged for hundreds of millions of dollars to be poured into the campaigns of the most powerful members of Congress. In 1912, they backed an obscure Princeton professor for President of the United States, Woodrow Wilson.He later became President.

The Coup’ of 1913

Late on Tuesday December 23, 1913, just days after the Christmas recess had commenced, a secret Senate vote was“arranged” with only a few Senators remaining in Washington D.C.The act passed with 43 voting “yea” and 25 voting “nay.” 27 did not vote since they had not been notified and had already left town to go home for the Holidays. All had previously expressed their opposition to the act. So on Dec 23, 1913, their plan worked by one of the most cunning manipulations in parliamentary history;Congress passed the Federal Reserve Act of 1913.In its charter, the act clearly states as its main objective: “To provide the action with a safer,more flexible, and more stable monetary and financial system.”

This means of a fractional reserve debt system controlled by a private for Profit Corporation has not worked out too well for the American people and thus the world to a greater or lesser extent.I mean we do not have a more stable monetary financial system at all.What we have is a debt based monetary system no longer backed by gold or silver. We have a currency that will soon be replaced as the world’s reserve currency. The Federal debt alone is $19 trillion dollars. It is mathematically impossible topay off this debt which will in a couple of short years will soon reach $22trillion and will make the U.S. situation look like Greece on steroids! Therefore “a safer, more flexible and more stable monetary and financial system” as set forth in this charter clearly has not worked out so well. And so by this means of fractional reserve banking,governments may secretly and unobserved, confiscate the wealth of the people and not one man in a million will detect the theft. This system of fractional reserve banking and the printing of all this fiat (now digital fiat) currency,is purely inflationary and the U.S. dollar has lost over 95% of its purchasing power since its inception.

1944 The Bretton Wooods Agreement

Another critical factor, which contributed to the rise of power in America, was the Bretton Woods agreement of1944. The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world’s major industrial states in the mid-20th century. The BrettonWoods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. It is through the Breton Woods agreement that the U.S. dollar became the world’s “reserve currency. 

Preparing to rebuild the international economic system as World War II was still raging, 730 delegates from all 44 Allied nations gathered at the Mount Washington Hotel in Bretton Woods,New Hampshire, United States, for the United Nations Monetary and Financial Conference. 

The delegates deliberated upon and signed the Bretton Woods Agreements during the first three weeks of July 1944. Setting up a system of rules, institutions, and procedures to regulate the international monetary system, the planners at the Bretton Woods Agreements during the first three weeks of July 1944. Setting up a system of rules, institutions, and procedures to regulate the international monetary system, the planners at Bretton Woods established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD),which today is part of the World BankGroup. These organizations became operational in 1945 after a sufficient number of countries had ratified the agreement.

The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to the U.S. dollar and the ability of the IMF to bridge temporary payments. Simply stated, the power centers of the world met in Bretton Woods, New Hampshire and it was decided that international trade and settlements such as the purchase of oil for example, must be exchanged with the U.S. dollars. This meant that the central banks of these nations were required to have sufficient U.S. dollars.

As a result, the increasing global demand for the U.S. dollar continued and based on supply and demand this kept the dollar strong. Another reason for this decision in 1944 is due to the fact that up until that point in history, America’s currency was kept under control without runaway inflation as the U.S. dollar was backed by gold and silver and  the trust and confidence in the US.Dollar was strong. Confidence is the critical underlying factor that keeps the financial structures and systems in place.Including confidence in the currency itself. In fact it can be stated that money is nothing more than an idea backed by confidence and a means to easily facilitate trade and keep order. What happens when this confidence is shattered?

1971 – The Nixon Shock

On August 15, 1971, the United States unilaterally terminated convertibility of the dollar to gold. As a result, the Bretton Woods system officially ended and the dollar became fully ‘fiat currency,’backed by nothing but the promise of the federal government. This action, referred to as the Nixon shock, created the situation in which the United States dollar became a reserve currency used by many states. From the1970’s and forward, Americans enjoyed what is considered to be a lavish lifestyle in comparison to most countries around the world.

Lesson from the Dustbin of History

 “Give me control of a nation’s money supply, and I care not who makes its laws.”– Amschel Rothschild, Mayer and German banker. He was the founder of the Rothschild family international banking dynasty.

The best way to destroy the capitalist system is to debauch its currency.” “The best way to crush the bourgeoisie (middle class), Is to grind between the millstones of taxation and inflation.” – Vladimir Lenin, Chairman of Russia’s Council of peoples Commissars 1917-1924

“By a continuing process of inflation,government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” –John MaynardKeynes, Fabian Socialist and father of Keynesian Economics

“The dirty little secret is that both houses of Congress are irrelevant. Both   congress is now being run by Alan Greenspan (Ben Bernanke today) and the Federal Reserve and America’s foreign policy is now being run by the IMF. When the President decides to go to war he no longer needs a declaration of war  Money in our current system is nothing more than debt, and we have lots of it!.“ – Robert Reich 22nd U.S.labor Secretary

“The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of the consumers. The privilege of creating and issuing money is not only   prerogative of government, but it is the government’s greatest  .” –President Abraham Lincoln

“If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.” President Thomas Jefferson

“Inflation has now been institutionalized at a fairly constant 5% per year. This has been determined to be the optimum level for generating the most   causing public alarm. A 5% devaluation applies, not only to the money earned this year, but to all that is left over from previous years. At the end of the first year, a dollar is worth 95 cents.At the end of the second year, the 95cents is reduced again by 5%, leaving its worth at 90 cents, and so on. By the time a person has worked 20 years, the government will have confiscated 64%of every dollar he saved over those years. By the time he has worked 45 years,the hidden tax will be 90%. The government will take virtually everything a person saves over a lifetime.” – American Author, Researcher and Filmmaker, G. Edward Griffin

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are   hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” – President Woodrow Wilson, aftersigning the Federal Reserve into existence

Money in our current system is nothing more than debt, and we have lots of it! Weeks away from http://usadebtclock.com/$22Trillion and that’s just the Federal debt alone!

Concluding Remarks

So the Federal Reserve, a private for profit baking cartel,comes to the table with no “skin in the game.” They unleash what is now digital fiat currency with no tangible backing or accountability into the banking system and this is then leveraged by Fractional Reserve Banking. The banks then can loan out these dollars (with a multiplier of 10 or 100 or more times the amount than they received from the Fed.), to other banks, to governments, corporations, and individuals and charge an interest rate. They typically own title for example, as in a mortgage or car loan. And when they decide to“reap the harvest,” they seize the assets when the consumer is unable to survive in a jobless inflationary climate (which they helped to create). They also fund both sides of all wars for huge profits as the innocent little children are laid in shallow graves and billed as nothing more than collateraldamage”.

This subject of Fractional Reserve Banking is also defined in great detail in a simple to understand format in the DVD titled“ Money as Debt”

This Federal Reserve Act of 1913,although passed by congress, was in contradiction to the United States Constitution which in Article 1, Section 8, Phrase5. It clearly states the following regarding money that “  have power to coin money, regulate the Value thereof, and of foreign Coin, and fix the standard of weights and measures.“ This power was given to a private bank called the Federal Reserve in 1913. Congressman Charles A. Lindbergh Sr. back then said – “This Federal Reserve Act establishes the most gigantic trust on earth. When President Wilson signs this bill, the invisible government of the monetary power will be legalized. This is the worst legislative crime of the ages that has been perpetuated by this banking and currency bill. From now on, all depressions will be scientifically created.”

And since the inception of the Federal Reserve, the U.S. Dollar has lost over 97% of its purchasing power. I believe the U.S. Dollar may experience a false sense of stability for the short to near term as the Euro and other currencies falter and fail, but once the U.S. dollar loses its world reserve currency status (at least as we know it) as the global financial reset is now upon us just a few short months from now (It is December23, 2018 as I write today), Trump will make his move against the Fed. Watch for my article on this in the coming days.

2019 and Beyond

It is because of this power and control which money affords that you will come to realize why governments and banks around the world are moving towards a cashless society. That’s right, a cashless society. If governments can control your money they can control your life. There are more and more laws, rules, and regulations in the U.S., Europe,and many places around the world restricting the amount of cash you can withdraw from your own accounts. Banks are now beginning to charge negative interest to hold your money.

Pulling cash from your bank or excessive international bank wires in any amount over a few thousand dollars, the banks can report you to the government as a “suspicious person,” potential money launderer, or terrorist, and a series of such withdrawals can put you in violation of criminal structuring/money laundering regulations, with huge fines and jail sentences. The ultimate goal of the global socialists is to eliminate all cash on a global basis and force everyone on the planet into the computerized electronic banking/credit card system. Cryptocurrencies have gained much momentum (albeit very volatile).

This will eventually lead to the National ID card, then the Global ID card, and then the chip through injection. This is the ultimate control and this is the direction the world is presently heading.I recommend getting a copy of the McAlvany Intelligence Advisor report May 2015 titled “War on Cash”, orread more about this in my archived articles section under “financial”.

So What to Do About All This?

There will be quite the bloodbath in the stock, bond and real estate markets. In fact, this has just begun. Support President Trump. Stay the course. Awaken others. Turn off the fake news. It is poisoning your mind, thoughts and feeling world and making you miserable. Follow Q-There is a plan.Stay informed. Sign up to receive my weekly articles to your in box via this FREE RSS Feed.

Surveys indicate that people no longer trust the media for news, politicians for the truth, or that Wall Street has Main Street’s best interest in mind. The John Michael Chambers Report informs and empowers individuals in a changing world. Sign up. Be informed and empowered. Stay connected.

As to your personal finances? The time for action is now. While so many others will continue to operate in the deceitful and flawed modalities being advised by an industry they no longer trust, critical thinkers see the dangers and opportunities. But you must act. A great change is on the near term horizon. The time for action is now. You can survive and thrive through the battle that has just begun for global currency supremacy. Got questions? I can help. Contact me.

Video Commentary

Beginning 2019, I will be providing a short weekly commentary video reflecting on the state of affairs as they unfold weekly. There will be unprecedented events occurring in 2019 and 2020. We will make sense of the madness as Trump takes on the Fed and the Deep State. The first video will be launched here on January 6, 2019 and each Sunday thereafter. Until then, have a Merry Christmas!
See you soon!

New Census Data Show Americans Are Migrating from Tax-Punishing States

The Census Bureau released new data that show Americans are continuing to move from high-tax to low-tax states.


The Census Bureau has released new data on state population growth between July 2017 and July 2018. Domestic migration between the states is one portion of annual population change. The Census data show that Americans are continuing to move from high-tax to low-tax states.

This Cato study examined interstate migration using IRS data for 2016. The new Census data confirms that people are moving from tax-punishing places such as California, Connecticut, Illinois, New York, and New Jersey to tax-friendly places such as Florida, Idaho, Nevada, Tennessee, and South Carolina.

In the chart, each blue dot is a state. The vertical axis shows the one-year Census net interstate migration figure as a percentage of 2017 state population. The horizontal axis shows state and local household taxes as a percentage of personal income in 2015. Household taxes include individual income, sales, and property taxes.

On the right, most of the high-tax states have net out-migration. The blue dot on the far right is New York with a tax burden of 13 percent and a net migration loss of nearly 1 percent (0.92) over the past year.

On the left, nearly all the net in-migration states have tax loads of less than 8.5 percent. The outlier on the bottom left is Alaska. If policymakers want their states to be people magnets, they should get their household tax burdens down to 8.5 percent of personal income or lower.

The red line is fitted from a simple regression that was highly statistically significant.

This Cato Institute article was republished with permission.

COLUMN BY

Chris Edwards

Chris Edwards

Chris Edwards is the director of tax policy studies at Cato and editor of DownsizingGovernment.org.

EDITORS NOTE: This column with images by FEE is republished with permission. The featured photo is by rawpixel on Unsplash.

What Life Inside Venezuela’s Crumbling Authoritarian Regime Looks Like

The citizens rely on the government for their livelihood, but they have little control over the government that supposedly represents them.


Sixty-five miles southwest of Venezuela’s capital Caracas lies Cagua. It’s a small city with just over 100,000 people—who live each day in survival mode. The 2018 Global Peace Index ranks Venezuela 143 out of 163 countries. Violent crime, homicide, and violent demonstrations are ranked at 5/5, making it one of the least peaceful and most dangerous countries on earth.

The monthly pay that most Venezuelan workers bring home is 4,500 bolivars, or around 11 U.S. dollars, making shopping for groceries in the socialist country nearly impossible. And since the idea of buying a house or a car is simply out of the question, young people don’t have the ability to become independent from their parents.

Oswaldo, a young man who lives in Cagua, graduated with a degree from a university in Venezuela in 2016. In an interview, Oswaldo described his life in Venezuela and the struggles he faces each day as a young man striving to succeed inside a failing country.

In addition to the problem of finding food and basic medicine, Oswaldo explained that citizens are often plagued with faults in electricity, water, and gasoline services. Many places in the country have to ration water consumption, but much of their drinking water in cities like Valencia is contaminated, anyway. The government has kept the gasoline prices so low that shortages are becoming the norm. This misallocation of resources is inevitable when gas prices are less than one penny for a gallon—sometimes dropping even lower than that.

While there is nothing explicitly prohibiting him from leaving, Oswaldo said the sketchy documentation system and price of flights deter him from even attempting to flee. The country, too, lacks the adequate resources to document who leaves and returns, posing potential problems for any Venezuelan citizen who wished to return. Nevertheless, more than 3 million Venezuelans have fled their homeland since 2015—numbers comparable to Syria and Afghanistan’s emigration tally.

Movement inside the country isn’t much different. Public transportation, once a system commonly used by Venezuelans, has become a rarity. Bus owners often cannot cover the cost of the spare parts to fix their vehicles, forcing citizens to find new ways to travel.

It’s not out of the ordinary to see cargo trucks transporting people across the country or pickup trucks packed with individuals, transporting as many people as possible. The police and military have been known to take things into their own hands, charging fines and collecting bribes from innocent travelers in order to make their own ends meet.

Oswaldo says that getting rich in Venezuela is possible, but the only way to do so is by contracting with the government. Venezuela’s former national treasurer from 2007 to 2011 even admitted recently that he received more than $1 billion in bribes while in office. According to Oswaldo, if a business has a good relationship with the crony government, they can make a small fortune. But businesses that rely strictly on customer demand for their products rarely do.

The citizens rely on the government for their livelihood, but they have little control over the government that supposedly represents them. After an election, for instance, it’s not uncommon for the opposition leader to be imprisoned. Votes are often illegitimate and the corrupt electoral body names the government-backed candidate the winner.

For these reasons, political participation has diminished considerably since early 2017, Oswaldo says. Opposition parties don’t want to call out their rulers and risk being singled out by those in power. The cycle of corruption and control of people’s lives is never-ending.

Organizations promoting freedom aren’t currently being persecuted because the government doesn’t feel threatened, Oswaldo says. But that could change at any moment. “All Venezuelans are at risk in our country,” he said. “Those most exposed are those who do political activism since their work puts the stability of the government at risk.”

Oswaldo is fighting for freedom in his home country—freedom that’s so often taken for granted in the United States. But Venezuelans are starting to get used to the lack of liberty and the never-ending struggle for their survival in Venezuela, which could very well lead to the regime remaining in power for some time. There are few people inside the country willing to fight against socialism, having seen the horrors of patriots fighting against a dangerous regime. But Oswaldo is holding out for the day that people have more control over their government and citizens can finally have the opportunity to find better lives.

It’s an uphill battle, Oswaldo says, but it’s a battle worth the fight.

COLUMN BY

Jake Grant

Jake Grant

Jake Grant is the Outreach Director for the Coalition to Reduce Spending and a contributor to Young Voices. The views expressed are his own and do not necessarily represent the views of his employer. Follow him on Twitter @thejakegrant.

RELATED ARTICLES:

The Ongoing Implosion of Venezuelan Statism

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Socialism, Not Corruption, to Blame for Venezuela’s Oil Production Drop

Venezuela’s Socialist Nightmare: A Prediction on Where It Ends

EDITORS NOTE: This column by FEE with images is republished with permission. Image by Jamez42 [CC BY-SA 4.0], from Wikimedia Commons

Electric Vehicle Tax Credits Another Form of Corporate Welfare

If America’s auto manufacturers wrote letters to Santa, it’s not hard to guess what would be high on their lists: retaining the federal tax credit for electric vehicles.

For several years now, Uncle Sam (who often acts like Santa’s U.S.-based cousin) has tried to encourage the public to buy electric vehicles by offering those who do so a tax credit of up to $7,500.

But the credit wasn’t created to be available forever, and it already caps out when a manufacturer has sold 200,000 electric vehicles.

General Motors Co., which is more than happy to have taxpayer money propping up part of its business, wants the credit made permanent and the cap lifted. So do other auto manufacturers, such as Nissan and Tesla. Many lawmakers on both sides of the aisle seem more than happy to give them what they want.

Guess who isn’t? President Donald Trump. When General Motors recently announced plant closings and a 15 percent cut in its workforce, the president said he was “looking at cutting all GM subsidies, including for electric cars.”

As well he should. Government has no business interfering in the market and trying to push consumers to buy what they don’t want. And it’s even more galling when lawmakers use taxpayer money to do it.

This type of cronyism is bad enough on principle alone. But it gets worse in the case of electric vehicle tax credits.

For one thing, the cost is borne disproportionately by lower- and fixed-income families who can’t afford electric vehicles. Who’s taking advantage of the subsidies? Primarily America’s wealthiest households. They don’t need a tax break to afford an electric vehicle, but hey, if it’s there, they’ll take it.

So, in an ironic twist, we have the government taking money from a wide swath of Americans, including those on the low end of the income scale, to put those who are more well off into “green” vehicles.

The Pacific Research Institute found that in 2014, 79 percent of electric vehicle tax credits went to households making over $100,000, while 99 percent of them went to households making at least $50,000.

Auto manufacturers, like any other company, should base their decisions about what to make solely on what customers want—not on what government wants them to want.

If people want electric vehicles, fine. But it should be their free choice, not something they purchase because they get some “free” money.

But some people may say it’s worth it for the environmental benefit. “Switching to electric cars is key to fixing America’s ‘critically insufficient’ climate policies,” The Guardian wrote earlier this year. That’s the rationale the Obama administration used to justify its push for electric vehicles.

But as economist Nicolas Loris points out in a recent article, “the numbers tell a different story.” In a study published in May, the Manhattan Institute calculated the reductions in greenhouse gas emissions from increased adoption of electric vehicles. The bottom line? Yes, electric vehicles reduce emissions, but in amounts far too small to make a difference.

“Based on the [Energy Information Administration’s] projection of the number of new electric vehicles, the net reduction in carbon dioxide emissions between 2018 and 2050 would be only about one-half of 1 percent of total forecast U.S. energy-related carbon emissions,” the report reads. “Such a small change will have no impact whatsoever on climate.”

Plus, let’s keep in mind that the mining of materials for lithium-ion batteries for electric vehicles itself pumps out a lot of carbon emissions. Add in the fact that the electricity being used to recharge these batteries is manufactured in coal-powered plants.

The auto manufacturers may disagree, but I have a better wish for Santa: End the electric vehicle credit and other forms of corporate welfare. Let the people decide what they want to buy without Uncle Sam putting his thumb on the scale.

Originally published by The Washington Times

COLUMN BY

Portrait of Ed Feulner

Ed Feulner

Edwin J. Feulner’s 36 years of leadership as president of The Heritage Foundation transformed the think tank from a small policy shop into America’s powerhouse of conservative ideas. Read his research. Twitter: @EdFeulner.


The Daily Signal depends on the support of readers like you. Donate now


EDITORS NOTE: This Daily Signal column with images is republished with permission. Photo: Gary Cameron/Reuters /Newscom.

The Case for Privatizing Social Security Just Got Stronger

A new OECD report highlights some of the economic benefits of private retirement systems.


The world is in the middle of a dramatic demographic transition caused by increasing lifespans and falling birthrates.

One consequence of this change is that traditional tax-and-transfer, pay-as-you-go retirement schemes (such as Social Security in the United States) are basically bankrupt.

The problem is so acute that even the normally statist bureaucrats at the Organization for Economic Cooperation and Development are expressing considerable sympathy for reforms that would allow much greater reliance on private savings (shifting to what is known as “funded” systems).

Countries should introduce funded arrangements gradually… Policymakers should carefully assess the transition as it may put an additional, short-term, strain on public finances… Tax rules should be straightforward, stable and consistent across all retirement savings plans. …Countries with an “EET” tax regime should maintain the deferred taxation structure… Funded, private pensions may be expected to support broader economic growth and accelerate the development of local capital markets by creating a pool of pension savings that must be invested. The role of funded, private pensions in economic development is likely to become more important still as countries place a higher priority on the objective of labour force participation. Funded pensions increase the incentive to work and save and by encouraging older workers to stay in the labour market they can help to address concerns about the sustainability and adequacy of public PAYG pensions in the face of demographic changes.

Here’s a chart from the OECD report. It shows that many developed nations already have fully or partly privatized systems.

By the way, I corrected a glaring mistake. The OECD chart shows Australia as blue. I changed it to white since they have a fully private Social Security system Down Under.

The report highlights some of the secondary economic benefits of private systems.

Funded pensions offer a number of advantages compared to PAYG pensions. They provide stronger incentives to participate in the labor market and to save for retirement. They create a pool of savings that can be put to productive use in the broader economy. Increasing national savings or reallocating savings to longer-term investment supports the development of financial markets. …More domestic savings reduces dependency on foreign savings to finance necessary investment. Higher investment may lead to higher productive capacity, increasing GDP, wages and employment, higher tax revenues and lower deficits.

Here’s the chart showing that countries with private retirement systems are among the world leaders in pension assets.

The report highlights some of the specific nations and how they benefited.

Over the long term, transition costs may be at least partially offset by additional positive economic effects associated with introducing private pensions rather than relying solely on public provision. …poverty rates have declined in Australia, the Netherlands and Switzerland since mandatory funded pensions were introduced. The initial transformation of Poland’s public PAYG system into a multi-pillar DC approach helped to encourage Warsaw’s development as a financial centre. …the introduction of funded DC pensions in Chile encouraged the growth of financial markets and provided a source of domestic financing.

For those seeking additional information on national reforms, I’ve written about the following jurisdictions.

At some point, I also need to write about the Singaporean system, which is one of the reasons that nation is so successful.

P.S. Needless to say, it would be nice if the United States was added to this list at some point. Though I won’t be holding my breath for any progress while Trump is in the White House.

This International Liberty article was republished with permission.

COLUMN BY

Muslim workers at Amazon demand longer prayer times, less work

Amazon has banned Jihad Watch from Amazon Smile and Amazon Associates, but its aid to jihadis has not led to its being accorded any breaks by its Muslim workers.

“Amazon says it has offered accommodations such as providing prayer mats for workers, converting a conference room into prayer space during the Muslim holy month of Ramadan and approving shift transfers for fasting workers.”

But it isn’t enough.

“The workers, many of whom are practicing Muslims, say the required productivity rate is too high, the company is unconcerned about worker injuries and that the conditions don’t allow practicing Muslims to pray as they otherwise would.”

The idea is to reinforce the principle, already established in other cases, that Muslims must always have special privileges and accommodations that others do not have. This is true now at Amazon unless non-Muslim workers get time off work equal to the prayer breaks that Muslims are given. Islamic law denies non-Muslims basic rights; only Muslims enjoy full rights in an Islamic society. To establish a similar situation in the U.S. is the ultimate goal here.

“Somali-American Amazon workers demand better conditions,” by Kerem Yucel and Nova Safo, AFP, December 15, 2018 (thanks to Mark):

A group of Amazon workers in Minnesota who are Somali refugees resettled in the Midwestern US state demanded better working conditions Friday during a protest outside one of the retailer’s warehouses.

Hundreds braved frigid temperatures to demonstrate outside of the Amazon warehouse in the Minneapolis suburb of Shakopee—home to a sizable Somali immigrant population from which Amazon has heavily recruited….

“We don’t have rights in the company,” worker Abdulkadir Ahmad, 30, told AFP.

The workers, many of whom are practicing Muslims, say the required productivity rate is too high, the company is unconcerned about worker injuries and that the conditions don’t allow practicing Muslims to pray as they otherwise would.

“We do not have enough time to pray. There is a lot of pressure. They say your rate is too low,” Ahmad said.

The workers timed their protest during the busy holiday shopping season, hoping to force the online retailer to make changes.

Amazon’s accommodations

They already have had some success. Amazon says it has offered accommodations such as providing prayer mats for workers, converting a conference room into prayer space during the Muslim holy month of Ramadan and approving shift transfers for fasting workers.

“Additionally, we’ve continued to hire and develop East African employees. We’re a leader in this space and we feel really good about our record here,” Amazon spokeswoman Shevaun Brown told AFP via email….

But workers say Amazon’s efforts so far have fallen short.

“We are appreciative they’ve sat down and talked with us, but we are not seeing real action,” activist Abdi Muse said.

Muse is the executive director of the Awood Center, a union-backed non-profit that organized the protest and helps East African workers in the state….

“When workers leave Amazon, they still live with the back pain, chronic illness, and hurt and harm caused during their employment,” said Ahmed Anshur, the imam at the Al-Ihsan Islamic Center in the nearby state capital of Saint Paul.

Protesters said they want the multibillion-dollar company to give back to the struggling community that has been a major source of its workforce in the Minneapolis area by giving money to a community fund to help struggling immigrant families.

“It’s not a handout or a donation,” said Mohamed Omar, imam at another Minneapolis suburban mosque….

Of course not. Why, who would think such a thing?\

EDITORS NOTE: This column with images originally appeared on Jihad Watch. It is republished with permission. The featured photo is by Christian Wiediger on Unsplash.

The Elderly & The World Wide Web (Infographic)

By Dr. Nikola Djordjev


While seniors don’t have the same level of Internet adoption as millennials, recent studies have shown that elderly people are now more connected than ever.

As a matter of fact, more than 70% of Internet users aged 65+ now use the World Wide Web on a daily basis. Furthermore, Baby Boomers – people born between 1946 and 1964 – nowadays spend roughly 27 hours online every week.

Some senior groups that are highly educated – especially the younger ones – report owning and using multiple Internet-capable devices. Interestingly enough, a vast majority of seniors, around 75% of them, use the Internet to communicate with friends and family members.

At MedAlertHelp.org, we’ve created the infographic below that will help you understand the seniors’ relationship with digital technology, more specifically – their relationship with the Internet.

EDITORS NOTE: This column with infographic is republished with permission. The featured photo is by Marisa Howenstine on Unsplash.

For Big Tobacco and Brewers, Grass is Greener

Big Tobacco and Big Alcohol are investing in pot to make Big Marijuana, the New York Times reports this morning.

  • Altria, the tobacco company that makes Marlboro and other cigarettes, paid $1.8 billion last week to buy nearly half of Cronos Group, a Canadian marijuana company.
  • Constellation Brands, the company that makes Corona and other beers, paid $4 billion last August for a major stake in another Canadian pot company called Canopy Growth.
  • And Molson Coors Canada, the Canadian branch of Molson Coors, bought a controlling interest in a joint venture with The Hydropothecary Corporation, a third Canadian pot company.

All three Canadian marijuana companies got their start producing the drug for medical use and are licensed by Health Canada. Canada’s full legalization of marijuana in October opened the door to the recreational market. US companies want an early entry into a market they believe will open soon in the US.

This morning’s print edition of today’s Times has a different title for this story: “This is the Dawning of the Age of Pot, Inc” the headline claims. Apparently, the Age of Aquarius (“Let the Sun Shine In”) has suffered a premature death. Big Tobacco lied to Americans for nearly a century, claiming nicotine is not addictive and smoking is harmless. Even before it became Big, the marijuana industry began following Big Tobacco’s playbook with the same mantra: Is pot addictive? “No.” “Harmless? Yes. It’s even a medicine.”

Sound familiar?

“The arrival of large multinational corporations portends sweeping changes for an industry that until recently operated in the shadows. As billions of dollars pour into product development, marketing and manufacturing, these companies will be looking to create big brands with the market share to match,” notes the Times.

Earlier this year, Coca-Cola representatives acknowledged their company was looking closely at the CBD industry. For a few days, Target sold CBD products online but abruptly ended the practice. Diageo, a spirits company, was rumored to be close to joining forces with an unnamed  Canadian pot company last summer, but no announcement has been made yet. And Walmart Canada is looking into the industry but currently has no plans to start selling products containing CBD or THC.

Some CEOs like Coca-Cola’s James Quincey are holding back. “It needs to be legal, it needs to be safe, and it needs to be consumable,” he said on CNBC this week. “It’s not there yet.”

Nonetheless, industry spokesmen say as more big companies get involved with marijuana, they’ll likely pressure Congress to legalize the drug in the U.S. nationwide, like Canada.

So, watch out. Those Green Marlboro packs containing pre-rolled joints seen in counterculture publications may not be hippie hallucinations after all.

Read the New York Times article here.


Here’s what happens when marijuana is commercialized

This graph, from a 2018 report by the Colorado Department of Public Safety (state law mandates a comprehensive report every two years), presents the clearest picture yet of what happens when a state commercializes marijuana.

Colorado legalized the drug for medical use in 2000. Patients who obtained a medical marijuana card from the state could access the drug by selecting a caregiver to grow it for them, and caregivers could grow enough marijuana for six patients. The number of patients who obtained cards grew from 94 in 2001 to 4,819 in 2008.

Effective 2009, the Colorado legislature established a system to license people to grow, manufacture, and sell marijuana for medical use. A license meant the holder could start investing in and making profits on these activities. In other words, Colorado created one of the first commercial marijuana businesses in the nation.

In 2008, there were no licensed medical marijuana growers, product manufacturers, or dispensaries in Colorado. By the end of 2012,* there were approximately 1,150 licensed facilities, and the number of patients who obtained medical marijuana cards jumped from 4,819 to 108,526 in four years.

Read more about this on page 157 here.

*Colorado archives licensee data, but they only go back to 2013. These data are taken from January 2013, one month after 2012 ended.


Farm Bill agreement allows nationwide hemp cultivation for any use – including CBD

If the US House passes the Farm Bill this week, hemp will be legal throughout the US. Hemp is defined as containing less that three-tenths of one percent of THC, the cannabinoid in marijuana that makes users high. The Senate passed the bill this week.

CBD products can be made from hemp although, because some patients insist they need THC as well, CBD must be extracted from marijuana to obtain THC.

According to Marijuana Business Daily, the measure would lift restrictions on advertising, marketing, banking, and other financial services on hemp growers and manufacturers. It also would:

  • Allow hemp production in all 50 states, including the production of CBD
  • Producers who raise hemp with a higher THC level than 0.3 percent would not be guilty of a drug crime but would have to submit a plan to correct the problem
  • Allow the sale of hemp and CBD across state lines
  • Make the US Department of Agriculture administrator of the program
  • Legalize production in US territories and on Indian tribal lands
  • Require taxpayers to subsidize the hemp industry by providing access to federal farm support, including crop insurance, federal water access, and low-interest loans to new farmers
  • Allow hemp producers to bring “foreign nationals” to the US to fill “temporary agricultural” jobs
  • Remove barriers to obtaining patents and trademarks
  • Ban state or federal drug felons from participating in the program for 10 years, and
  • Require the agriculture department to work with the Attorney General on hemp rules.

Read Marijuana Business Daily article here.


Maryland marijuana panel approves ban on cannabis advertising on billboards, radio, TV, and other media

The Maryland Medical Cannabis Commission voted unanimously to ban nearly all advertising of marijuana for medical use. The industry says it will fight the ban when the General Assembly convenes in January 2019. The rules prohibit advertising on or in:

  • Billboards
  • Radio
  • Television
  • Most online outlets
  • Newspapers and magazines that cannot prove 85 percent of their audience is over age 18
  • Leaflets or flyers in most public and private places
  • Internet ads must include an age verification page.

An industry spokesman claimed the ban came about after a billboard showing Adam and Eve smoking a joint upset two legislators. However, a spokeswoman for the commission said the effort was to mirror bans on tobacco advertising.

A deputy attorney general asked the commission to also add specific language prohibiting manufacturers from making any medical claims without scientific evidence.

The new rules state that marijuana companies may not make any claim that is “false or misleading in any material way or is otherwise a violation” of state laws.

Read The Baltimore Sun story here.

EDITORS NOTE: This column with images is republished with permission.

What the Neo-Socialists in Congress Don’t Understand about Poverty

In a few short weeks, America will welcome the 116th Congress.

Among the loud and celebrated voices in the new Congress are those who not only accept socialism as a viable option for America but also those who celebrate their ties to organizations like the Democratic Socialists of America. Incoming Reps. Alexandria Ocasio-Cortez of New York and Rashida Tlaib of Michigan are members of the Democratic Socialists of America who will caucus with the Democrats.

Ocasio-Cortez and Tlaib no longer represent a fringe movement on the left. An August 2018 Gallup poll revealed that over the last two years, capitalism has taken a dive, while socialism has soared among 18-to 29-year-olds.

I believe the 2016 presidential campaign of Sen. Bernie Sanders, I-Vt., gave socialism a countercultural boost among my generation. Millennials suffer under the weight of crushing student loan debt and a deteriorating safety net from employers who will pay them less than their parents earned. It is within this economic context that a system promising to create parity among citizens looks attractive.

Socialism Never Works

The danger with popularizing socialism is that it sounds reasonable, but it never works. It often comes with the best of intentions: to reduce poverty. But there are simply no examples of it working to reduce poverty long-term.

Baby boomers are far more skeptical of socialism. They have lived long enough to see attempts at socialism fail, while capitalism has opened doors of opportunity.

Even as we look at America’s own dalliance with socialism, we can see little success. In our 50-year war on poverty, well-intentioned efforts have come up short. After spending well over $20 trillion on the War on Poverty, poverty not only persists. It has become a booming business.

What stockholders would allow a CEO to invest $20 trillion into solving a problem without demanding results? I can think of none.

The good news is that after 50 years, we know what does not work to end poverty: redistributing wealth. We also have a pretty good idea of what can end poverty. My friend and mentor Dr. Ben Carson often cites research that says a person can reduce their chances of living in poverty to 2 percent by doing these three things in this order: 1) Graduate from high school, 2) get married, and 3) wait until you are married to have children.

This is sound advice, something that both public and private organizations should advocate to help save future generations from a life of cyclical poverty.

For tens of thousands of Americans, though, the horse has left the barn. White students graduate at a rate of 86 percent. Black students lag behind at a rate of 69 percent.

Over 70 percent of all African-American children born today will be born to single mothers.

The best hope for all Americans who find themselves included in these numbers is a community to help fill the gap.

The Power of Community

After spending time listening to the smart policy wonks at the Heritage Foundation’s annual antipoverty summit, I am excited to see that the research bears out what my life experience has proven to me. It does not take government to end poverty. It takes a committed and empowered community.

I was raised by a strong and wise mother who understood that after she and my father divorced, it was important to make sure I learned from strong, positive male role models, including my dad, uncles, grandfathers, and even coaches.

I am successful today, but not because the government stepped in. I am successful because the government got out of the way and allowed my community to do what community does best.

As the hip, cool socialist wave makes its way to the halls of Congress, I fear we may return to the ill-fated, if altruistic, efforts of LBJ’s Great Society, when throwing money at social programs made us feel good.

A complete shift in thinking must occur. Success must be measured not by the amount of money we throw at poverty solutions, but by the number of people who are exiting poverty.

This article was reprinted from The Daily Signal.

COLUMN BY

Xavier Underwood

Xavier Underwood

Xavier Underwood is head of production for Howard Stirk Holdings, the nation’s largest minority broadcaster.

EDITORS NOTE: This column with images is republished with permission.

Signs The Global Financial Reset Has Begun

The reset has already begun and once implemented will have a profound impact on each and every one of us, here and across the globe. I have written about the Global Financial Reset before and have provided links to these and related articles at the bottom of this post. We will see in this post, the Signs The Global Financial Reset Has Begun. This content below in this post was contributed by my good friend Dr. Kirk Elliott, PhD, ThD

SIGNS THE GLOBAL FINANCIAL RESET HAS BEGUN

Dr. Kirk Elliott, PhD, ThD

I recently read an article by market analysts Jim Willie.  He is a brilliant analyst, and I wanted to pull out a few things from his research that stood out to me in regards to a global financial reset.  I went back to the source documents behind some of his projections and I concur with his analysis.  Links to the source documents are provided below.

After and economic recession/depression DEBT IS ALWAYS REDUCED.  In the US, the recession of 2009 did not eliminate debt, in fact the opposite—IT EXPLODED not just in the US but globally.  In fact, debt has been exploding since then and REAL GDP has been CONTRACTING by -2 to -4% a year in real terms according to John Williams of Shadow Stats.

SOURCE: https://www.silverdoctors.com/headlines/world-news/jim-willie-the-global-currency-reset-has-begun-now-watch-these-two-key-events/

CIPS (Cross Border Interbank Payment System (started Oct 2015), but is now gaining much momentum.  Now commands $6-$8 TRILLION portfolio of funded projects.  This is designed to replace the SWIFT system in the eastern hemisphere.

SOURCE: https://en.wikipedia.org/wiki/Cross-Border_Inter-Bank_Payments_System

MARCH 2018 the Chinese rolled out a new gold-backed yuan oil contract next month as part of its attempt to replace the US dollar’s dominance of that commodity trade.  This could spell the end of the petro dollar trade.  This built in demand for the US$ is pretty much all the demand there is for it.  In time, the dollar sinks, and an alternative petro-dollar HAS ALREADY BEEN FORMED—no need to even speculate.

SOURCE: https://seekingalpha.com/article/4148232-yes-petro-yuan-threat-u-s-dollar

BRICS 2.0.  By this time everyone is aware of the BRICS nations and the coalition to form a strength based union to counteract the west.  BRICS 2.0 is that movement on steroids.  Gold is one of the last commodities controlled by the west (NY and LONDON exchanges).  This initiative will co-align the BRICS nations to replace that as well.  This is my opinion is not a bad thing, as London has allowed naked shorts on futures contracts of metals for a long time, thus limiting the growth through manipulation.  People who own gold and continue to acquire it should benefit AMAZINGLY as a true market will be established without the manufactured suppression of prices. Sadly, for us as Americans, this one is on us.  Our regulators allowed the manipulation to happen, and people seek truth and transparency. This is another nail in the coffin of US financial dominance.

SOURCE: https://www.miningreview.com/brics-gold-new-model-multilateral-cooperation/

WHAT TO LOOK FOR MOVING FORWARD FOR FURTHER SIGNALS

According to market analyst Jim Willie, he has categorized upcoming triggers that would indicate that a global financial reset will be here before any of us could possibly imagine.  Look out for any of these events:

LIST OF POTENTIAL KEY EVENTS

VERY SERIOUS MAJOR GLOBAL GAME CHANGERS

  • Deutsche Bank failure, talk of restructure, with rupture of derivative complex
  • Italian banking system collapse, complete with numerous bank runs
  • Italian sovereign currency announced as new Lira currency in EU exit
  • London Metals Exchange launches RMB-based metals contracts
  • COMEX & LBMA rupture from lost control of integration with oil & currencies
  • Formal launch of Gold Trade Note atop the Shanghai G-O-R contracts
  • Saudi oil sales in RMB to China, adopted by other Arabs and other Asians
  • London flips East, with RMB Hub development, following their AII Bank membership

DEEP IMPACT DISRUPTIONS

  • Flourishing non-USD platforms, led by Chinese design and efforts
  • Germans and French formally end Russian sanctions, thus flipping East
  • CIPS bank transaction system gains wider adoption, even among Western nations
  • BRICS Gold Platform announces conversion of sovereign bonds to Gold
  • China pre-announces gold-backed Yuan in form of convertible Gold Trade Note
  • China announced Yuan backed by basket of currencies, Gold, other commodities
  • Introduction of a new IMF SDR basket that includes gold, crude oil, iron
  • EU opens door to Euro payments in external trade with trading partners
  • Emerging Markets rupture on debt defaults, due to currency crisis
  • NATO fractures in the open and EU pursues independent military security

SOURCE: https://www.silverdoctors.com/headlines/world-news/jim-willie-the-global-currency-reset-has-begun-now-watch-these-two-key-events/

The time is now to prepare and safeguard your assets.

Closing Comments

John Michael Chambers

The Global Financial Reset is not some conspiracy theorists fantasy but rather a currency, monetary, financial and economic fact. It is one in a series of must occur events if we are to truly MAGA. There are many players involved in this great change. And with this change we shall see changes made to the Federal Reserve (finally) as well as the Rothschild World Banking Cartel and others. Dangerous indeed. But there is a plan.

Now we cannot prevent this great and perhaps long and painful transition from occurring but we can continue to remain informed. And like a category five hurricane coming into town, you just don’t operate business as usual. You plan and prepare to minimize the damage. There is a category five economic hurricane rapidly approaching. The time for such planning is now. You can survive and perhaps thrive.

Dr. Elliott’s firm will be holding a series of live Roundtable Public Briefings in the state of Florida in 2019 of which I will be a co-presenter. Perhaps we will meet somewhere out there on the road. Please visit these informative articles linked below.

Dr. Kirk Elliott, PhD, ThD

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EDITORS NOTE: This column with images is republished with permission.

Harvard Study: Gender Wage Gap Explained Entirely by Work Choices of Men and Women

The “gender wage gap” is as real as unicorns and has been killed more times than Michael Myers.


“Gender pay gap is worse than thought: Study shows women actually earn half the income of men,” NBC announced recently in reference to a report titled “Still a Man’s Labor Market” by the Washington-based Institute for Women’s Policy Research, which found that women’s income was 51 percent less than men’s earnings.

What do you think of when you hear the phrase “gender pay gap”? Perhaps you think of a man and woman who work exactly the same job at exactly the same place, but he gets paid more than she does. This sort of discrimination has been illegal in the United States since the passage of the Equal Pay Act in 1963.

But that is not what is generally meant by the phrase “gender wage gap.” Instead, the commonly reported figure—that a woman earns 80 cents for every dollar earned by a man—is derived by taking the total annual earnings of men in the American economy in a given year and dividing that by the number of male workers. This gives you the average annual earnings of an American man. Then you do the same thing but for women. The average annual women’s earnings come in at about 80 percent of the average annual man’s earnings. Presto, you have a gender wage gap.

That’s it, honestly. It isn’t much above back-of-a-cigarette-box stuff. This methodology takes no account whatsoever of a whole host of factors that might explain this discrepancy. It ignores the fact that according to the Bureau of Labor Statistics (BLS), in 2017, men worked an average of 8.05 hours in an average day compared to 7.24 hours for women.

True, women are more likely to be raising children, taking care of elderly family members, or doing housework, leaving them with fewer hours in the day for paid employment. But this does not alter the essential fact: that people working fewer hours, on average, can be expected to earn lower incomes, on average.

And there are differences in the type of work men and women do, which bears on their earnings. BLS data shows that, in 2017, 94 percent of child day care services workers were female, the highest percentage of any category, and that the mean annual wage of childcare workers was $23,760. By contrast, just 2.9 percent of workers in logging were women, the lowest share of any category, and the mean annual wage here was $42,310.

The Institute for Women’s Policy Research study fails to account for these differences. Indeed, its authors are airily dismissive of analysis that takes into account “occupational differences or so-called ‘women’s choices.’”

Its headline claim is that the 80 cents figure is wrong; in fact, women earn more like 49 cents for each dollar a man earns. The authors, Stephen J. Rose and Heidi I. Hartmann—listed in that order because that is how it is presented on the cover of their report, not because of sexism—arrive at this conclusion by taking a longitudinal dataset from 2001-2015 and measuring average annual earnings across the period for people who worked any amount during any of these years, and then comparing the overall averages for male and female workers, as well as for different subsets of men and women. Workers who were employed full-time for the entire 15-year period are lumped in with those who worked only part-time or occasionally.

Rather than starting with an observation (that 80-cent statistic) and examining possible causes, Hartmann and Rose have simply assumed a cause (rampant sexism) and carried out a slightly grander version of the back-of-a-cigarette-box calculation to support it. This isn’t how social science research should be done. It is exactly the wrong way round.

Remember, if we truly want to measure the impact of sexism on male and female relative earnings, we want to look at men and women doing exactly the same job at exactly the same place. Fortunately, a new study by Valentin Bolotnyy and Natalia Emanuel of Harvard University—again, listed in that order because that is how they are presented in their paper—does just this.

They look at data from the Massachusetts Bay Transportation Authority (MBTA). This is a union shop with uniform hourly wages where men and women adhere to the same rules and receive the same benefits. Workers are promoted on the basis of seniority rather than performance, and male and female workers of the same seniority have the same choices for scheduling, routes, vacation, and overtime. There is almost no scope here for a sexist boss to favor men over women.

And yet, even here, Emanuel and Bolotnyy find that female train and bus operators earn less than their male counterparts. From this observation, they go looking for possible causes, examining time cards and scheduling from 2011 to 2017 and factoring in sex, age, date of hire, tenure, and whether an employee was married or had dependents.

They find that male train and bus drivers worked about 83 percent more overtime than their female colleagues and were twice as likely to accept an overtime shift—which pays time-and-a-half—on short notice and that around twice as many women as men never took overtime. The male workers took 48 percent fewer unpaid hours off under the Family Medical Leave Act each year. Female workers were more likely to take less desirable routes if it meant working fewer nights, weekends, and holidays. Parenthood turns out to be an important factor. Fathers were more likely than childless men to want the extra cash from overtime, and mothers were more likely to want time off than childless women.

In other words, the difference in male and female earnings at the MBTA was explained by those “so-called ‘women’s choices,’” which Hartmann and Rose so easily dismissed.

“The gap of $0.89 in our setting,” the authors concluded, “can be explained entirely by the fact that, while having the same choice sets in the workplace, women and men make different choices.”

The “gender wage gap” is as real as unicorns and has been killed more times than Michael Myers. Yet politicians feel the need to genuflect before this phantom figure. President Obama’s White House was obsessed with that ridiculous 80-cent number. Let us substitute the quest for phantoms with serious research into the causes of relative incomes.

COLUMN BY

John Phelan

John Phelan

John Phelan is an economist at the Center of the American Experiment and fellow of The Cobden Centre.

EDITORS NOTE: This column with images is republished with permission.