U.S. Dollar Tanks!

September 23, 2007

U.S. DollarSince the U.S. Dollar is tanking and will continue to plunge until we actually back up its value with real gold bars, thought we’d share a few links:

Ron Paul Slams Bernanke For Dollar Meltdown

Greenspan Publicly Shamed for Intentionally Destroying Dollar

Canadian Dollar Trades Equal to US Dollar

How the Falling Dollar Affects Americans

US Dollar Weakens, Stocks on the Rise


The Truth About Blackwater USA

September 18, 2007

Investors should brace themselves for a prolonged period of market turmoil, Henry Paulson, the US Treasury Secretary, said yesterday as he held emergency meetings with the Chancellor and the French Finance Minister.Mr Paulson flew to London to discuss the financial crisis with Alistair Darling as markets remained in the grip of anxieties over the continuing toll from the global credit squeeze.

Speaking after talks with his counterparts in France and Britain, Mr Paulson insisted that the global economy remained strong despite the seizures in interbank lending, but admitted that the American economy would take a knock from the turmoil.

After meeting Christine Lagarde, the French Finance Minister, Mr Paulson said: “It will take a while to work through the turbulence in capital markets.”

Mr Paulson acknowledged that bad lending practices were to blame for the present financial crisis, which has been triggered by the high number of American homeowners falling into arrears on their mortgages.

However, he added that “the whole world, including the US, has benefited from . . . credit availability”.

Ms Lagarde had called for new rules to prevent a repeat of the credit turmoil, but Mr Paulson argued that “we want to make sure we don’t rush to judgments”.

Mr Paulson ruled out an immediate recession, saying that the United States’s economy would continue to grow in the second half of the year, despite the country’s housing slump.

The Treasury Secretary said that the credit crunch was the result of bad lending practices rather than any problems in the real economy. “We are already seeing modest reductions in the strains in some markets,” he said.

Mr Paulson described his country’s economy as “diverse” and “healthy”, with inflation controlled and growth good, and expressed confidence that growth would continue in the second half of the year. He said that the decline in US employment in August, the first drop in four years, had not been a surprise, “given where we are in the economic expansion”.

However, the financial turbulence will “extract some penalty” from the US economy, he said.

Turbulence in capital markets across the globe and the slump in US property prices are expected to force the hand of the US Federal Reserve Bank today to cut interest rates by at least a quarter of a percentage point, to avert the chance of a US recession.

Some analysts believe that the Fed will bow to pressure from financial institutions and make a half-point cut.

Mr Paulson declined to comment on the Fed’s meeting, saying that he had “great confidence” in its Chairman, Ben Bernanke.

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In a recent post titled, Did Jesus Endorse Paying Taxes? by spiritual mentor and political activist John Paul Mitchell claims Jesus Christ, as political teacher and activist, never endorsed paying taxes. Here’s what he wrote:

My former mentor use to teach his students that they should pay their taxes. He would quote Jesus to reinforce the teaching of paying taxes. However, he would quote Jesus out of context, isolating one or two verses to support his teaching.

When we examine teachings from the Holy Bible or any Scripture, we should take them in context, both historical and literal.

Paying Temple Taxes 

Matthew 17:24-27 states:

And when they were come to Capernaum, they that received tribute money came to Peter, and said, Doth not your master pay tribute?

He saith, Yes. And when he was come into the house, Jesus prevented him, saying, What thinkest thou, Simon? of whom do the kings of the earth take custom or tribute? of their own children, or of strangers?

Peter saith unto him, Of strangers. Jesus saith unto him, Then are the children free.

Notwithstanding, lest we should offend them, go thou to the sea, and cast an hook, and take up the fish that first cometh up; and when thou hast opened his mouth, thou shalt find a piece of money: that take, and give unto them for me and thee.

If you were a parent and had your children of 18 years or younger living with you, would you charge them anything to live with you? Would you require they pay a tax to eat the food you bought them for nourishment? Would you require they pay a tax to use their bedroom as a living quarters? Would you charge your children a tax to play in the backyard?

Of course not!

The government is the parent. And the people are the children. It is the responsibility of the government to keep us safe and ensure we have everything we need to live appropriately.

Paying Taxes to the Government 

In Matthew 17:24-27, Jesus says we are not obligated, even by Law, to pay our taxes. If we pay our taxes to our governments or established institutions, then we should do it only as a courtesy. Paying taxes is optional. Read the rest of this entry »