"Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money." -Daniel Webster
"Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money." -Daniel Webster
"All the perplexities confusion and distress in America arise not from defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation." -John Adams, in a letter to Thomas Jefferson in 1787
7595.70 Ponzi bucks on Friday, May 9, 2008.
$hifty's Ponzi index is derived from the formula:
Ponzi index = (Nasdaq + Dow) divided by 2.
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The dollar-adjusted Ponzi is 4686.91 Ponzi bucks.
The dollar-adjusted Ponzi is the $hifty's Ponzi index value divided by the price of 1 SDR in US dollars.
audio clips for background music while viewing the charts:
Badges (Treasure of the Sierra Madre)
The Good, The Bad, and The Ugly (1)
The Good, The Bad, and The Ugly (2)
The Good, The Bad, and The Ugly (3)
"The banks -- commercial banks and the Federal Reserve -- create all the money of this nation and its people pay interest on every dollar of that newly created money. Which means that private banks exercise unconstitutionally, immorally, and ridiculously the power to tax the people. For every newly created dollar dilutes to some extent the value of every other dollar already in circulation." - Congressman Jerry Voorhis
This chart depicts the price of gold - in SDR - not in $US. The chart shows the fluctuation of gold vs. paper money.
The SDR represents a worldwide basket of fiat moneys and is a creation of the International Money Fund (IMF). Thus, the chart removes the bias imposed by the floating valuation of the US dollar vs. other fiat moneys. Compare thess charts to the charts of gold and silver in $US that are commonly published in the American media.
The above image was generated by Pacific FX Plot Interface
"We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied soon." -Robert H. Hemphill, Credit Manager of Federal Reserve Bank, Atlanta, Ga.
"If what is used as a Medium of exchange is fluctuating in its Value it is no better than unjust Weights and measures, both which are condemned by the laws of GOD and Man, and therefore the longest and most universal Custom could never make the Use of such a Medium either lawful or reasonable." -Roger Sherman, a delegate from Connecticut and author of the gold and silver coin provision of the Constitution, wrote a scathing condemnation of paper money entitled "A Caveat (caveat means warning) Against Injustice"
"Woe unto them that call evil good, and good evil; that put darkness for light, and light for darkness; and put bitter for sweet, and sweet for bitter." - Isaiah 5:20
metals & stock tracking charts page
"Nothing is easier than spending public money. It does not appear to belong to anybody. The temptation is overwhelming to bestow it on somebody." -Calvin Coolidge
"The popular notion that an increase in the stock of money is socially and economically beneficial and desirable is one of the great fallacies of our time. It has lived on throughout the centuries, embraced by kings and presidents, politicians and businessmen. It has shattered numerous currencies, inflicted incalculable harm, and caused social and political upheavals. It springs forth, again and again, no matter how often economists may refute it."- Hans Sennholz
recommended: excellent reading material:
GOLD STANDARD UNIVERSITY - Essays by Dr. Fekete at: Gold is Freedom
"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."- Thomas Jefferson
recommended: excellent reading material:
Gary North: Mises on Money
eBook summary of the works of Austrian economist
Ludwig von Mises (1881-1973)
The Theory of Money and Credit (1912)
Economic Calculation in the Socialist Commonwealth (1920)
Socialism: An Economic and Sociological Analysis (1922)
Human Action: A Treatise on Economics (1949)
"Do not confuse the ticket with the show." - John Maynard Keynes
"All that is necessary for evil to triumph, is that good men do nothing" - Edmund Burke
recommended: excellent reading material:
Essays by Eugene C. Holloway, J.D., L.L.M at Gold-Eagle
Gold, Money & U.S. Constitution
"The peculiar evil of silencing the expression of an opinion is, that it is robbing the human race; posterity as well as the existing generation; those who dissent from the opinion, still more than those who hold it." - John Stuart Mill
Note: Anything I may have used or referenced in this website I consider to be:
Reprinted under the Fair Use doctrine of international copyright law.
This page was last updated on 05/10/08.