A few months ago I was involved in a somewhat political conversation with two colleagues (never a good idea, by the way) and both of them were quite fond of Rudy Giuliani. Of course I was shocked, so I inquired further. One of them attended a leadership conference years ago in which Rudy was held as the model leader, the other just had a good feeling towards him and couldn’t remember why. I struggled to contain my vomit.
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There are too many people on the major social news sites mocking Ron Paul for finishing 5th in the Iowa caususes yesterday. I couldn’t disagree with their sentiment more, and I question whether they are even conservatives to begin with.
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When normal people lose money on an investment, they can’t withdraw their assets from the market and assign them any value they choose. The only way those assets are valued is by comparing them with current market transactions — the last value at which it was traded. But for banks the rules are different, for many years they have been maintaining what is referred to as “level 3″ assets that have completely made up valuations.
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Jim Rogers is probably most famous for selling his house and moving his entire family to Singapore. Recently on Bloomberg he called on Ben Bernanke to resign and abolish the Fed. What follows is a collection of several compelling interviews.
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In 2006, the number of immigrants in America hit an all time record of 37.5 million. In the 10 years between 1990 and 2000 the number of foreign born people living within the country rose by 57.4% and almost half the newborn children could be identified as part of a racial or ethnic minority.
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The world has realized that after years of lending Americans the money to buy the goods they produce, the money to repay those obligations has all been squandered and nothing is left. The credit crisis that began in the summer of 2007 has occurred primarily because foreigners are now refusing to invest in American debt.
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I recently came across this fantastic discussion with Peter Schiff from 2002. He accurately describes the economic conditions at the time and how he planned to profit from them. His commentary has proven to be remarkably prescient in light of the current state of the global economy.
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fas·cism [fash-iz-uhm]
–noun
1. A governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism.
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What follows is a series of interviews involving Peter Schiff, President of Euro Pacific Capital and the author of a book called “Crash Proof: How to profit from the coming economic collapse” in which he describes a terrible crash scenario for 2008 and beyond. They are sorted with the oldest first so you can see his predictions gradually coming to fruition in front of your eyes. His prediction for the real estate market is found in the last (most recent) video.
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In the process of trying to convert a socialist friend to support the principles of freedom, she remarked, “ya, you’re not radical”. I didn’t really know what to make of that statement, so I asked if she was being sarcastic. Of course she was. My instinctive reaction was to become somewhat defensive and disagree. The conversation had to be cut short for an unrelated reason, but if it had continued I surely would have tried to convince her that supporting freedom and the sovereignty of nations is not radical. To the contrary, supporting massive taxation for the benefit of corporate parasites and global hegemony is quite radical.
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