Jim's Blog

As usual, good reactionary stuff.

You favor abolishing welfare: What do propose to do with all the able bodied people that are too lazy or too violent or have too short a time preferance to hold down a job?

Once upon a time, such people were put on the chain gang. Progressives did not like private individuals owning slaves, but they just love governments owning slaves. Look how they loved communist china, and look how bitterly outraged and indignant they became when the Chinese government realized that most people do better work as employees, rather than slaves.

Supposedly, the Federal Reserve has mountain of gold, seven thousand tonnes stashed in various places in the US.  By an astonishing coincidence, it owes banks in other nations seven thousand tonnes of gold.

The Fed owes the German government fifteen hundred tonnes of gold.  Germany asked for its gold back.  The  Fed did not want to give it.  So Germany asked for three hundred tonnes of gold back.  The fed agreed, in principle, to return three hundred tonnes of Germany’s gold – over seven years.

Why so long?

This only makes sense is the fed has considerably less than three hundred tonnes left and they hope to quietly purchase three hundred tonnes over the next  seven years using freshly printed money.  Stalling is going to create fear.  If the fed is stalling, it can only be because it has absolutely no alternative but to stall.

Recall the bank run scene in “It’s a wonderful life”.  Imagine if the bankers had said, “No problem, we have your money, but, alas, due to postal delays and that our clerks a bit slow counting it is going to take seven years.”