argus

“The key in how low the dollar goes is the interest rates. In January, the Fed is going to have to make a decision which way to go. If Fed rates go up, the dollar will hold in the 78.33 range, but the stock market and the economy will tank. If next year the Fed lowers rates to keep the economy from crashing, the bottom will fall out of the dollar, and I see it going as low as 55. Once the dollar hits bottom, it will take the stock market and the economy right with it anyway. The Fed is in a box they can’t get out of.”

The dollar is headed for collapse. China will start unloading it first, then the oil industry will start to shift away from it. From there, it’s all downhill. Once things are really in the toilet, then Our Imperial Federal Government will Save The Day by proposing …the amero, the North American version of the Euro. National sovereignty is, like, so 20th century.

What can you do? Not much. Convert your dollar holdings to gold and silver if you can. If you’re really adventurous (and you have the money to invest), try an option straddle on the exchange of your preference: basically short the dollar’s strength against other currencies. But really, the whole fiat currency system is due for another flush down the john. As we have clearly forgotten history (or just never learned it in the first place), we are doomed to repeat it. Ultimately, all you can do is have a “pipe dream” disaster response plan in place so you don’t go to pieces when the fan gets hit with the proverbial poop.

POP quiz: is the Federal Reserve a government agency/entity?

Some quotes to chew on…

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford

The incorporation of a bank, and the powers assumed by this bill, have not, in my opinion, been delegated to the United States by the Constitution.

I. They are not among the powers specially enumerated…

II. Nor are they within either of the general phrases, which are the two following:-

1. “To lay taxes to provide for the general welfare of the United States.” … The [Congress] are not to do anything they please, to provide for the general welfare, but only to lay taxes for that purpose… It was intended to lace them up straightly within the enumerated powers, and those without which, as means, these powers could not be carried into effect…

2. The second general phase is, “to make all laws necessary and proper for carrying into execution the enumerated powers.” But they can all be carried into execution without a bank. A bank, therefore, is not necessary, and consequently not authorized by this phrase.

It has been much urged that a bank will give great facility or convenience in the collection of taxes. Suppose this were true; yet the Constitution allows only the means which are “necessary” not those which are merely “convenient,” for effecting the enumerated power. — Thomas Jefferson, speaking against the bill proposing creation of the First National Bank

Buckle up.

Andrew McCarthy has an outstanding piece over at NRO titled “Negotiate With Iran?” Now that the Iraq Study Group has released it’s September 10th recommendations (replete with …absolutely no surprises), Mr. McCarthy’s piece is simply required reading. His history lesson of Iran’s central position in Islamic radicalism throughout the past quarter century puts the lie to the preposterous proposition of “talking” with Iran and Syria.

The embers glowed softly, and in their dim light,
I gazed round the room and I cherished the sight.
My wife was asleep, her head on my chest,
My daughter beside me, angelic in rest.
Outside the snow fell, a blanket of white,
Transforming the yard to a winter delight.
The sparkling lights in the tree I believe,
Completed the magic that was Christmas Eve.
My eyelids were heavy, my breathing was deep,
Secure and surrounded by love I would sleep.
In perfect contentment, or so it would seem,
So I slumbered, perhaps I started to dream.
(more…)

Some random bits, aimed at your general enlightenment and edification.

• Could you have passed the eighth grade in 1895? As it turns out, I wouldn’t have even come close…
• Debunking the fallacy of throwing more money at education. More support for getting rid of the Department of Education…
• Milton Friedman talks about limited government. Milton Friedman (who died today at 94) was a longstanding advocate of limited government. The link is to a PBS special from waay back yonder — remarkable how identical and timeless his points are to those that must be made (or really, re-made) again today…

She’s now, constitutionally, second in line to the Oval Office. While I’m less than thrilled with Jorge’s performance of late (a massive understatement), I don’t want to attempt to imagine where we’d end up with a Democrat-controlled Congress and a President Pelosi. Nationalized health care? Endless tax raises? Forever porous borders and periodic amnesties? Endless head-in-the-sandism with regards to the significant portion of the world that wants to exterminate and/or dominate us?

The nightmare that I wake up sweating from: some far-left moonies whack VP Dick “The Big” Cheney and President Jorge “Illegals? What illegals?” Bush just so they can see Shrieker Pelosi take the reins and steer us full-tilt into The Abyss Formerly Known As Progressivism.

Dear Secret Service,
If you’re listening, we respectfully request that you make every effort to keep POTUS and VPOTUS out of the same possible sight picture from now until Jan 2009.

Thanks, the Management