History shows clearly that fiat currencies have a limited life.
I went to a seminar once where the speaker passed around a sizable cardboard box contain a huge number of other failed fiat currencies (Zimbabwe wasn't an isolated incident). It was sobering to consider when you know that the FED is doing the very same thing (but with steroids) that caused all the others to collapse.
Is there any possibility that they are awaiting some sort of guidance regarding GAAP? After all, their books must be a bit different than most.
The right to discriminate is a natural right. It should not be confused with a "civil right" which is one bestowed (or even illegitimately curtailed) by legislative fiat.
Remember, government authority cannot collectively be anything more than power we can wield ourselves. That is a foundational concept that few Americans even understand.
Of course, there is the choice to consent to be governed that must also be considered. Doing so waives one's rights and actually increases one's duties and obligations. It's why registered voters, for example, can be compelled to serve jury duty, but ALL OTHERS may volunteer. Get that?
And that means that the black market will still exist and may actually flourish. Alternate sources of supply always appear in markets where price is too high (usually as a result of taxation or tariffs) or supply is artificially restricted.
Yeah, the real curious aspect is that even with the Dow on a run, volume is declining in a stark fashion, which, at least in my opinion, indicates chicanery is afoot.
The fed is opening an auxiliary command and control operation in Chicago apparently fearful of some potential event in NYC according to ZeroHedge.
On the other hand, it may well cause the oil glut to expand. The Saudis must have the revenues or risk revolt.
I certainly hope that to be the case. All this foot dragging serves to undermine the share value.
Citizens are subjects, obligated to perform mandatory civic duties. They are not sovereigns.
It will be admitted on all hands that with the exception of the powers granted to the states and the federal government, through the Constitutions, the people of the several states are unconditionally sovereign within their respective states.
- - - Ohio L. Ins. & T. Co. v. Debolt 16 How. 416, 14 L.Ed. 997
. . .
Who are those unconditionally sovereign people?
I couldn't recall the significance of the name: Chris Savvinidis. After searching on the name I recognized the images and his words were called to mind. Perhaps he's run out of gas knowing that, by and large, the American people are really too stupid to understand what is going on just like the Europeans of the 15th century when this "model" came into vogue.