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The Federal Reserve’s Counterfeit Prosperity

When I was a young Secret Service agent on a local financial crimes task force between 2000 and 2002, I was inundated with an explosion of new counterfeit cases. There were a number of causes for this explosion in currency counterfeiting but the main ones were: the rapid advancement in ink-jet printing technology, the declining costs, and correspondingly increased availability of affordable home printers. Prior to these technological advancements, counterfeiting U.S. currency was the near exclusive purview of state-sponsored actors, sophisticated criminals and criminal syndicates.

With the growth in ink-jet printing, any thirteen-year-old with a printer could counterfeit money. I, along with hundreds of other Secret Service agents, were so preoccupied with tracking down this new class of counterfeiters and stemming the tidal wave of new counterfeit making its way into the money supply that I never had the time to philosophize on the deeper reasons why this crime is so dangerous to national cohesion.

We are lucky enough to live in a time where the authenticity of the physical currency in our wallets is taken for granted, but when the Secret Service was founded in 1865 to combat counterfeiting—the Secret Service’s role in Presidential Protection didn’t formally begin until 1901 after the assassination of President William McKinley—it was estimated that approximately half of the currency in circulation was counterfeit. Think about that: you had a roughly 50 percent chance, when engaged in commerce, of receiving money with ZERO value. That people had faith in their currency was so important to the U.S. government at the time that the Secret Service was established and charged with hunting down and prosecuting counterfeiters in order to re-establish public trust in the battered dollar.

Read more.

 

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EDITORS NOTE: This column originally appeared in the Conservative Review. The featured image of Federal Reserve Chair Janet Yellen is by Jacquelyn Martin | AP Photo.

Speaker Boehner’s Connection To The StemExpress Founder

stemexpress logoAs reported by Breitbart:

The founder of StemExpress, the private company that has engaged with Planned Parenthood in the sale of aborted baby body parts, is the younger sister of the health policy director of House Speaker

The founder and CEO of StemExpress is Cate Dyer, the younger sister of Charlotte Ivancic, Boehner’s health policy director, as originally observed at the conservative site For America.

In response to Breitbart News’ request for comment, Emily Schillinger, Boehner’s press secretary, said, “Charlotte Ivancic is a dedicated public servant who enjoys the utmost respect among her peers and Members of Congress. She has the Speaker’s complete trust and confidence in both her work and her character.”

FULL STORY HERE:

Boehner’s Health Policy Director is Sister of StemExpress Founder – Breitbart

Boehner gives Barack a Blank Check

US national debt clock / billboard. Picture was taken on April 19, 2008 so add approximately $1.5 billion per day to get to the current amount.

Amy Payne from The Foundry reports:

Remember all those debt limit fights? Well, apparently Congress got tired of fighting. So now they’re working toward doing away with the debt limit altogether.

In recent years, conservatives fought to get at least some spending cuts, to begin putting the budget on a path to balance—after all, raising the debt ceiling means Congress has spent too much. Cutting spending before increasing the debt limit is necessary if Congress is to exercise some control over the debt.

But not this year. No one put up a fight this time—so Congress is essentially handing President Obama a blank check for the entire year.

“With almost $17.3 trillion in national debt, failing to put a debt limit in place to protect taxpayers from even more reckless spending by Congress is beyond irresponsible,” Heritage’s Romina Boccia, the Grover M. Hermann Fellow, told The Foundry.

That’s $140,000 per household, by the way.

Watch the Foundry explain in one minute what this “blank check” means:

[youtube]http://youtu.be/BLdjCUcrBFQ[/youtube]

 

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America’s debt weakens us domestically and internationally. Leadership means that, ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”Senator Barack H. Obama, March 2006

EDITORS NOTE: The featured image was taken on April 19, 2008 by Jesper Rautell Balle. Since this photo was take the national debt has risen over $6.6 trillion.

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GOP Walks into U-shape Ambush RE: Immigration

Recently we reported that the House GOP, especially Speaker Boehner, was looking at a means to advance the idea of “comprehensive” immigration reform.

President Obama threw down a gauntlet during his State of the Union address, (which very few watched, by the way). The House GOP is currently at a retreat conference in Baltimore (some might say their at a retreat both literally and figuratively) and they may well be crafting a strategy at this session.

Weekly Standard Editor Bill Kristol writes in his blog,

The Wall Street Journal reports that some House Republican leaders are looking to give illegal immigrants legal status right away, with the chance for a green card—and citizenship—down the line….First, illegal immigrants would be offered a “probationary” status, allowing them to work while the government tightened border security and interior enforcement. Officials have explained that this would allow people to work legally while they wait for permanent legal status. (Officials have explained that this group could revert to illegal status if enforcement benchmarks are not met.)

Mr. Kristol (and I) challenge that parenthetical statement. Kristol says,

Is it plausible, and would it even be fair, to force legalized working immigrants to “revert” to illegal status just because some bureaucrats haven’t met certain arbitrary benchmarks? The forced “reversion” would never happen, and it shouldn’t.

I’m constantly amazed how so much legislation is written in double-speak to appease and assuage some concerns while enabling the true goals to be met. “Comprehensive” legislation equals lots of pages of legislation with caveats buried deep inside and no one reads but everyone votes for.

Even Pat Buchanan warns about the prudence of this legislative shift in a National Review article where he says

An imminent Republican debate over immigration will play into the hands of the Democratic party. With the widespread unpopularity of Obamacare, Republicans should instead focus on the embattled health-care law ahead of the 2014 midterm election. By pivoting to the issue of immigration, Republicans are walking right into the trap.

Buchanan surmises that the “Chamber of Commerce and the big-business folks want the immigration deal solved.”

And therein lies the u-shaped ambush awaiting the House GOP and Speaker Boehner if they fall on this grenade. First of all, at a time when Americans are suffering from high levels of unemployment, they should not be adding illegals into the job market until we can rectify the situation for Americans.

The Democrats will certainly blame the Republicans for exacerbating the jobless situation for Americans and castigate the GOP as the party of big business and corporations who want cheap labor.

Second, why would Speaker Boehner do anything that feeds more members into the liberal progressive welfare nanny-state? Who does the Speaker believe these new legal-status individuals will support? Ya think we have voter fraud issues now?

Lastly, why would the GOP want to discourage its base, which enabled them to have a House majority in 2010?

This issue combined with the insidious government education initiative “common core” will result in many conservatives basically saying, “you’re on your own” and this will add fire to the direction and policy of the Republican Party.

My advice to Republicans? You cannot win by being a lesser version of the liberals. If you cannot articulate a clear delineation based upon a policy agenda that promotes the advancement of the individual American, you will lose.

Focus on healthcare solutions, policies that get Americans back to work, get behind our veterans and their concerns, and present a vision for our national security — and communicate that as a unified body.

Even Harry Reid wised up and is denying President Obama fast track trade authority and the Trans-Pacific Partnership.

Make the connection with the American people, because right now, President Obama and the progressive socialists have lost credibility with Americans.

What do you think, should the House GOP cave in and advance some type of comprehensive resolution to illegal immigration? I think I know the answer…

EDITORS NOTE: This column originally appeared on AllenBWest.com.

RELATED COLUMNS: 

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