CB 17:19 - most lessons of history are only single-generational
dc CB 17:19:00 GMT - 01/26/2012
JP
200+years later.
Founded on the idea that some are more equal than others....
AMERICAN NATIONS, Colin Woodward
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In the dark hours of the wars of liberation, the Continental Congress had no money to pay salaries to their
soldiers or to compensate the farmers for requisitioned food and livestock. Instead Congress gave all these people
government IOUs. This practice continued for years until, under the financial administration fo the notoriously
unethical banker Robert Morris, the state of Pennsylvania announced that it would no longer accpt the congressional
IOUs as payment for taxes. With no other money in circulation in much of the countryside, many poor families had
not choice but to sell the notes for whatever they could get, and wealthy speculators pruchased them for one-sixth
to one-fortieth of their face value.
Soon just over 400 individuals held over 96 percent of Pennsylvanias's war debt, and nearly half was controlled by
just 28 men, most of whom were Robert Morris's friends and business partners. Shortly thereafter, Morris and his
protege Alexander Hamilton took control fo federal financial policy, rigging it so as to lieterally turn their
friends' worthless paper into silver and gold.
Under Morris and Hamilton, the federal government would buy back tthe bonds for face value, plus 6 percent
interest, paid in precious metals raised by assesssing new federal excise taxes designed to fall most heavily on
the poor people who'd been forced to take the worthless congressional script in the first place.
But wait--there's more.
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Mtl JP 15:40:23 GMT - 01/26/2012
CB 15:17 - maybe when banks actually go into partnership with wanna-be house-owners and charge negative 3.88% for 30years... show some confidence know
dc CB 15:17:20 GMT - 01/26/2012
that's because mortgage rates are TOO DAM HIGH
Llast week 30Y morts were averaging 3.88%...way too much.:)
GVI Forex john 15:11:17 GMT - 01/26/2012
New Homes look weak...
GVI Forex john 15:01:13 GMT - 01/26/2012
-- ALERT --
U.S. New Home Sales December 2011
307K vs. 320K exp. vs. 314Kr prev.
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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