Tiger Street Journal: NIA Responds to Harvard Economics Professor About Inflation via Frank Gonzalez (PLEASE REPOST)

My Friend Frank Gonzalez who let me use his article to pass it along.

This link from the so called papers of record the NY times will prove the dirty business of the evil triumvirate Harvard, Princeton, Yale. Note Also this was stated on the record by Gerald Celente many times. Then another saying Bullets, Bombs, and Banks. Who is running the federal reserve? A Princeton man Ben Bernanke. Who is running wall street see above the evil triumvirate. Who is running the government SAME THING!

This proves extremely well how ivy league college education is CRAP–even HARVARD or any college in that matter the college fraud.

NIA Responds to Harvard Economics Professor About Inflation

from this link see here

 

and the article written by Gregory Mankiw

 

Harvard economics professor Gregory Mankiw wrote an article that was published in the NY Times yesterday entitled, "It’s 2026, and the Debt Is Due". In this article, Mankiw gave a hypothetical Presidential address the President of the U.S. might make in the year 2026 after a failed bond auction. Mankiw’s hypothetical Presidential address takes place in a scenario where in the year 2026, the U.S. Treasury "tried to auction its most recent issue of government bonds" but "almost no one was buying." According to Mankiw’s hypothetical speech, during this 2026 crisis the President will admit, "The private market will lend us no more."

Unfortunately, Professor Mankiw fails to understand that the U.S. has zero chance of surviving until the year 2026. What Mankiw predicts will happen 15 years from now is already happening today right under his nose, but somehow he fails to realize it.

The public today has already stopped buying U.S. treasuries. The Pimco Total Return Fund, which was the largest private holder of U.S. government bonds, has just reduced their holdings down to zero. The private sector was buying 30% of U.S. treasuries, but today is no longer buying at all. The Federal Reserve is currently buying 70% of U.S. treasuries. If it wasn’t for the Federal Reserve buying U.S. treasuries, we would already be experiencing failed bond auctions today.

According to Mankiw, the President will say in 2026, "Today, most of the large baby-boom generation is retired. They are no longer working and paying taxes, but they are eligible for the many government benefits we offer the elderly." The fact is, the last baby-boomer turned 46 years old in 2010 and 46 is the age in which the average American reaches peak consumer spending. Therefore, even though most baby-boomers might not be retired, baby-boomer spending is now in free-fall while baby-boomers are simultaneously signing up for entitlement programs at record pace. This will begin to affect our economy today, not 15 years from now.

Mankiw’s hypothetical speech has the President admitting in 2026 that we "have to cut Social Security immediately, especially for higher-income beneficiaries. Social Security will still keep the elderly out of poverty, but just barely" and we "have to limit Medicare and Medicaid. These programs will still provide basic health care, but they will no longer cover many expensive treatments. Individuals will have to pay for these treatments on their own or, sadly, do without." The truth is, if the U.S. government cut 100% of all spending except for Social Security, Medicare, and Medicaid, we would still have a budget deficit from these entitlement programs and interest payments on our debt alone. If the U.S. wants to prevent hyperinflation and survive until 2026, we need to make major cuts to these programs today. By 2026, it will be over a decade too late and these programs will no longer exist at all.

Mankiw’s hypothetical 2026 Presidential address goes on to say that "over the last several years" the U.S. has experienced a "vicious circle of rising budget deficits" and "as the ratio of our debt to gross domestic product reached ever-higher levels, investors started getting nervous". Does Mankiw realize that the U.S. just reported a budget deficit for the month of February 2011 of $222.5 billion, more than the entire fiscal year of 2007? In our opinion, our budget deficits can’t rise much more viciously than what they already are today, without the U.S. experiencing an outbreak of hyperinflation. We need to begin sharply reducing our deficits immediately or else hyperinflation this decade is inevitable.

Our real debt to GDP ratio in the U.S. today is already north of 500% when you include unfunded liabilities for entitlement programs, as well as other commitments like the backing of Fannie Mae and Freddie Mac. It will simply be impossible for this figure to rise much higher without the U.S. experiencing hyperinflation. NIA believes that unless the U.S. government completely eliminated Social Security, Medicare, and Medicaid, there is no way the U.S. government will be able to stay afloat for another 15 years with such an unprecedented level of debt.

In 2026, Mankiw believes the President will admit that, "Our efforts to control health care costs have failed." He suggests the President will proclaim that, "We must now acknowledge that rising costs are driven largely by technological advances in saving lives. These advances are welcome, but they are expensive nonetheless." Does Professor Mankiw own a laptop computer, plasma TV, or mobile phone? These technologies are improving by leaps and bounds yet prices are falling. Technological advances are not driving health care costs higher! It is the government’s involvement in the health care sector and their failure to allow the free market to operate that is driving health care costs through the roof.

Professor Mankiw believes the President will continue by saying, "We have to cut health insurance subsidies to middle-income families." NIA believes it is the very same subsidies Mankiw is referring to that are driving health care costs sky high. It is just like in the college education industry. If the government didn’t provide subsidies for students to learn voodoo Keynesian economic theories from professors like Mankiw, college tuitions would be a lot more affordable.

To solve this supposed 2026 crisis, Mankiw believes the President will announce, "We will raise taxes on all but the poorest Americans. We will do this primarily by broadening the tax base, eliminating deductions for mortgage interest and state and local taxes. Employer-provided health insurance will hereafter be taxable compensation." Although NIA believes employer-provided health insurance should be taxable compensation because it would end the employer based health insurance system and make health insurance cheaper for all Americans, we believe it will be impossible for the government to raise any additional revenues from tax increases. We are at a point where any additional taxes will drive economic activity overseas and result in less tax receipts. When hyperinflation soon arrives, taxes will become irrelevant. The government will fund over 99% of its spending by printing money and less than 1% from taxation.

Mankiw also believes the President in 2026 will, "increase the gasoline tax by $2 a gallon. This will not only increase revenue, but will also address various social ills, from global climate change to local traffic congestion." Come 2026, gasoline will probably cost $20,000 per gallon, if we are lucky. An additional $2 gasoline tax will be absolutely pointless and meaningless.

Mankiw suggests that the President in 2026 will, "secure from the I.M.F. a temporary line of credit to help us through this crisis." The I.M.F. recently sold a large percentage of its gold reserves and by 2026 will likely be broke. Even if the I.M.F. was still around 15 years from now and did provide the U.S. with a line of credit that helps it survive the crisis, the largest line of credit the I.M.F. could possibly financially provide would only support a U.S. government that is less than 1/10 of its size today. Therefore, NIA believes the U.S. government should begin dramatically reducing its size immediately, before it is in need of a line of credit from the I.M.F.

It would be nice to think that the U.S. will be able to borrow and print money for another 15 years to fund endless budget deficits and that 2026 is some magical year when all of our debts will come due. The economy does not work this way and it is disgraceful that our nation’s most prestigious ivy league schools are teaching such dangerous economic principles. Considering that a large percentage of our highest ranking government officials graduated from Harvard, it really explains a lot when you look at who is teaching economics at Harvard. Mankiw is the same professor who in April of 2009 called for the Federal Reserve to implement negative interest rates. Mankiw called for savers to be punished and for all Americans with $100,000 in the bank to have only $98,000 one year later.

It is the destructive Keynesian theories of economists like Mankiw that have gotten the U.S. economy into the dire situation it is in today. Mankiw and other professors like him are brainwashing American students into believing that forcing people to spend is the key to a healthy economy and the way to solve all economic problems is to create a lot of inflation. All across America, students are graduating colleges with hundreds of thousands of dollars in debt, no jobs, and no idea of how the economy actually works. They will spend the rest of their lives paying off their debts and trying to get the false economic information they were taught out of their heads. The college education system in America is the single largest fraud that exists today, and NIA is going to expose the truth about the government’s conspiracy to turn American students into debt slaves in our next feature documentary, coming in April.

It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us/

My point of view on this: It is not that he (Mankiw) is Keynesian, The Harvard economics professor is a hack, he’s just full of hot air. They don’t have evidence to prove their points like another Harvard hack in the NY times Paul Krugman.

I do agree 1000% on the NIA’s information. Yes the only things are rising is food and energy. Electronics are going down all the mainstream media pundits admit that but won’t admit the food and energy crisis.

NIA is right that the debt is north of 500% Debt to GDP ratio. My calculations from my articles i have mentioned many times before the total debt is conservatively $200 trillion. Note to all facebookers the debt ceiling is at $14.294 trillion. I have the total Debt to GDP at get this? (You may see a respirator after this or a big puke bag the size of the empire state building) It is about 1400% Debt to GDP ratio.  How did i get this number?

Count bailouts

Banker Bailout $28 trillion

Fannie and Freddie Mac $5 trillion plus

Reviving the housing market that is about $30 trillion

The war in Libya almost $1 billion a day.

Bank of America Foreclosure gate scandal $6 trillion

The three wars we are fighting is about countless but i say $10-12 trillion and count the defense budget of $1.5-2 trillion.

The unfunded liabilities over $113 trillion.

The US total debt including the federal spending and all the personal debt credit card, consumer debt, etc. is around $55.3 trillion.

So that is actually north of $200 trillion. about $230 trillion of US debt on top of an economy that supports itself on 10 cheeseburgers, a side of fries and aspartame (soda)!

The biggest scam next to global warming or above in my opinion is Education as a whole. I really love how they teach you the stupid junk in school like Gerald Celente said "WW I was started because of the assassination of Archduke Ferdinand" It did not. It was a breakdown of the systems. What we see now are "brush fires". Brush fire in Tunisia, Brush fire in Wisconsin, Brush fire in Egypt, Brush fire in Yemen, Brush fire in Libya, etc. I can just go on and on!

College fraud Education Fraud look at my articles i wrote see these links

"Tiger Street Journal 7 cheeseburgers, fries, and $2.5 quadrillion black hole: The Corrupted Education System"

Tiger Street Journal Education Fraud Revealed

Some more George Carlin

This is the quickening of the old world order as we know it.

That is your article update, if you can’t enough of my article follow me at Andrew Tiger Lee (profile and fan pages),  Fcuk The New World Order, Goldman Sachs are Financial Terrorists 2nd edition, and www.minuteone.us fan pages. Also i am avaliable on project.nsearch.com/profile/AndrewTiger.  Until then bye all! =)

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Obama’s Libyan Lies

lonelantern 

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Justin Primm – Eternal Vigilance Expanding Human Understanding

NIXvsNWO

March 30th, 2011

CNN Segment On Libya Titled “The New World Order”

SaveOurSovereignty3
You Tube
March 28, 2011

CNN features a round table debate on Libya intervention entitled “The New World Order,” which features NWO acolytes Richard Haass of the CFR and Robert Kagan of PNAC, as well as Jane Harman, who mentions the work of Richard Holbrooke, a former Bilderberg / CFR diplomat.

Cops Suspended for Locking Teens in Van

Brian Thompson

NBC New York March 29, 2011

Related:

Police Leave Teens Locked in Van For Hours

Three Fort Lee, N.J., officers have been suspended after police left a van full of teens locked up outside in the cold for 14 hours, officials said.

The borough’s police department has suspended the two officers it believes were responsible for forgetting the teens, who were rounded up at a high school house party early Saturday morning. Their supervisor was also suspended, borough attorney Lee Cohen said.

The suspensions were announced just hours after NBC New York reported the story.

Read Full Article

UNITY IS THE ULTIMATE POWER FREEDOMS IS YOURS

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Tiger Street Journal: FBI Busts Mastermind Criminal For Issuing Silver Currency, Demanding Repeal Of Fed And IRS; Faces 15 Years In Prison

Youtube

Justin Primm breaks it all down

 

Tyler Durden

Zero Hedge

The FBI, which apparently has no major criminals to pursue, is now busting those who are preparing for the dollar’s imminent destruction. Bernard von NotHaus, head of the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code, commonly known as NORFED and also known as Liberty Services (his website can, or rather could, be seen here), which since 1998 has been issuing silver coins as a replacement for the relentlessly devaluating US currency, was convicted today by a federal jury of making, possessing, and selling his own coins. " Following an eight-day trial and less than two hours of deliberation, von NotHaus, the founder and monetary architect of a currency known as the Liberty Dollar, was found guilty by a jury in Statesville, North Carolina, of making coins resembling and similar to United States coins; of issuing, passing, selling, and possessing Liberty Dollar coins; of issuing and passing Liberty Dollar coins intended for use as current money; and of conspiracy against the United States." The devious scheme for which von NotHaus faces up to 15 years jail time: "NORFED’s purpose was to mix Liberty Dollars into the current money of the United States. NORFED intended for the Liberty Dollar to be used as current money in order to limit reliance on, and to compete with, United States currency." In other words make the US currency less credible. We are confident the Chairsatan will take this shining example of what happens to "counterfeiters" of US currency to heart, and promply proceed to release another cool trillion in green 75% cotton/25% linen products, forcing US jails to promptly fill up with millions of subversive elements who no longer wish to interact with the former reserve currency.

From the FBI

Defendant Convicted of Minting His Own Currency

STATESVILLE, NC—Bernard von NotHaus, 67, was convicted today by a federal jury of making, possessing, and selling his own coins, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina. Following an eight-day trial and less than two hours of deliberation, von NotHaus, the founder and monetary architect of a currency known as the Liberty Dollar, was found guilty by a jury in Statesville, North Carolina, of making coins resembling and similar to United States coins; of issuing, passing, selling, and possessing Liberty Dollar coins; of issuing and passing Liberty Dollar coins intended for use as current money; and of conspiracy against the United States. The guilty verdict concluded an investigation which began in 2005 and involved the minting of Liberty Dollar coins with a current value of approximately $7 million. Joining the U.S. Attorney Anne M. Tompkins in making today’s announcement are Edward J. Montooth, Acting Special Agent in Charge of the FBI, Charlotte Division; Russell F. Nelson, Special Agent in Charge of the United States Secret Service, Charlotte Division; and Sheriff Van Duncan of the Buncombe County Sheriff’s Office.

According to the evidence introduced during the trial, von NotHaus was the founder of an organization called the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code, commonly known as NORFED and also known as Liberty Services. Von NotHaus was the president of NORFED and the executive director of Liberty Dollar Services, Inc. until on or about September 30, 2008.

Von NotHaus designed the Liberty Dollar currency in 1998 and the Liberty coins were marked with the dollar sign ($); the words dollar, USA, Liberty, Trust in God (instead of In God We Trust); and other features associated with legitimate U.S. coinage. Since 1998, NORFED has been issuing, disseminating, and placing into circulation the Liberty Dollar in all its forms throughout the United States and Puerto Rico. NORFED’s purpose was to mix Liberty Dollars into the current money of the United States. NORFED intended for the Liberty Dollar to be used as current money in order to limit reliance on, and to compete with, United States currency.

In coordination with the Department of Justice, on September 14, 2006, the United States Mint issued a press release and warning to American citizens that the Liberty Dollar was “not legal tender.” The U.S. Mint press release and public service announcement stated that the Department of Justice had determined that the use of Liberty Dollars as circulating money was a federal crime.

Article I, section 8, clause 5 of the United States Constitution delegates to Congress the power to coin money and to regulate the value thereof. This power was delegated to Congress in order to establish and preserve a uniform standard of value and to insure a singular monetary system for all purchases and debts in the United States, public and private. Along with the power to coin money, Congress has the concurrent power to restrain the circulation of money which is not issued under its own authority in order to protect and preserve the constitutional currency for the benefit of all citizens of the nation. It is a violation of federal law for individuals, such as von NotHaus, or organizations, such as NORFED, to create private coin or currency systems to compete with the official coinage and currency of the United States.

Von NotHaus, who remains free on bond, faces a sentence of up to 15 years’ imprisonment on count two of the indictment and a fine of not more than $250,000. Von NotHaus faces a prison sentence of five years and fines of $250,000 on both counts one and three. In addition, the United States is seeking the forfeiture of approximately 16,000 pounds of Liberty Dollar coins and precious metals, currently valued at nearly $7 million. The forfeiture trial, which began today before United States District Court Judge Richard Voorhees, will resume on April 4, 2011 in the federal courthouse in Statesville. Judge Voorhees has not yet set a date for the sentencing of von NotHaus.

“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

The case was investigated by the FBI, Buncombe County Sheriff’s Department, and the U.S. Secret Service, in cooperation with and invaluable assistance of the United States Mint. The case was prosecuted by Assistant United States Attorneys Jill Westmoreland Rose and Craig D. Randall, and the forfeiture trial is being prosecuted by Assistant United States Attorneys Tom Ascik and Ben Bain Creed.