By MONEY MORNING STAFF REPORTS
As the Fed continues pumping $85 billion a month into the U.S economy, further ravaging the dollar’s value, Warren Buffet issued a harsh warning to investors: “Run from paper money.”
The world’s most famous investor delivered his blunt advice in a riveting interview on CNBC, saying investors should fear the dollar because it will be “worth less and less over time.”
“Paper money has a lousy future,” Buffett said, adding that Americans should run from it as fast as they can.
As it turns out, thousands of Main Street Americans are already dumping their dollars – and turning to a radical new form of money.
In fact, as the U.S. dollar reaches a startling two-year low – its weakest since November 2011 – and with consumer confidence dropping like a rock – this new form of money is becoming a powerful force on currency exchanges around the world.
Often referred to as Edison-Ford Dollars, this new radical currency bears a striking resemblance to a type of money first created by American icons, Thomas Edison and Henry Ford at the turn of the 20th century.
But the U.S. Department of Justice calls it a “renegade currency,” because while it protects Americans from a decaying dollar, it also threatens Central Banks like the Fed which control fiat currencies around the world.
“Ordinary Americans love this currency, yet politicians are terrified of it,” said Michael A. Robinson, a Pulitzer-Prize nominated investigative reporter and former Board Member of a major Silicon Valley Venture Capital Fund who spent the last two years analyzing this “renegade currency.”
“Governments fear this money could hasten the end to paper money– and start a powerful revolution,” said Robinson.
Some analysts believe the revolution has already begun. 36 cities across 20 states already allow citizens to pay for everything from water bills to parking tickets with it.
And according to the latest figures, nearly 700,000 American businesses are now turning to it, including Wal-Mart, CVS, Lowes and Nike.
International acceptance is surging too, and economists predict this “renegade currency” could usher in a new international monetary system.
“This growing revolt is causing people to abandon not just the dollar but the EURO, the Pound, the Yen…you name it,” said Robinson.
“It’s a stateless currency,” Robinson adds. “There’s no central bank, no central computer, no center to attack.”
“What we’re witnessing,” Robinson said, “is a global rebellion against the Fed, against all Central Banks. A harsh dose of medicine to many, overblown power structures.”
Unfortunately, Robinson says the mainstream media is still keeping the American people in the dark about how this currency works.
Robinson spent two years analyzing every facet of this currency. He interviewed dozens of CEOs, investment funds and other major players involved with this new currency. He talked extensively to his network of contacts in Silicon Valley to get a read on where this currency is heading.
He’s now made all that research available to average Americans. And what he reveals may shock people. It completely redefines the way we think about money.
His research also serves as a wake-up call regarding the systematic problems facing our government controlled money supply– and how they this “renegade currency” could actually free citizens from being subjected to the whims of central banks around the world.
“Something like this has never happened before in history,” Robinson said. “Since 2009 we’ve had ungodly amounts of money printing, quantitative easing, and zero percent interest rates as far as the eyes can see.”
“Remarkably, this new currency makes all those problems unnecessary and even obsolete.”
Between 2008 and 2011, the U.S. government awarded roughly $6.12 million in federal farm subsidies to several groups in the Chicago area, including a charity owned by Louis Farrakhan’s The Nation of Islam, according to a report released by government watchdog group Open the Books.
The report, titled “Farm Subsidies and the Big Dogs,” is based on data released by the U.S. Department of Agriculture & information obtained through the Freedom of Information Act. The report examines total farm subsidies that have been paid into selected cities and urban areas.
Perhaps unsurprisingly, federal farm subsidies are being poured into several non-farming metropolitan areas, including New York City and Chicago, according to the report.
Several entities in Chicago, for example, “receive the federal subsidies at their downtown loop office buildings or residential mansions,” the report reads. “Nearly every neighborhood in the city receives federal farm subsidy payments — including the Gold Coast, Downtown — Loop, Lincoln Park, and even the President’s neighbors in Hyde Park.”
A total of 930 entities in the Chicago area received farm subsidies between 2008 and 2011.
And as for the Louis Farrakhan group: Three Years Economic Savings, Inc., which is listed at his home address, received approximately $103,529 between 2008 and 2011, making it the 12th highest farm subsidy recipient in the Chicago area.
The entity’s status is listed on the Illinois Secretary of State website as being “not good standing,” the Open the Books reported. But the Three Years Economic Savings’ website, muhammadfarms.com, is still accepting donations.
The group also received a $26,357 “commodity loan” during the Bush administration “to improve & stabilize farm income, assist with a better balance between supply and demand of the commodities,” the report notes.
This loan was signed on Nov., 17, 2008.
The group’s estimates of farm subsidy payments are based on several data points including crop subsidies, conservation & wetland reserve subsidies, dairy & livestock subsidies, & environmental quality incentive programs.
Of all Illinois municipalities receiving federal farm subsidies, Chicago is ranked number seven, according to the report. And of all states receiving federal farm subsidies, Illinois is ranked number three.
But if you think the situation in Chicago is suspicious, keep in mind what’s happening there is only a snapshot of what’s going on nationwide with federal farm subsidies.
“Billions in U.S. Farm Subsidies flowed to only 10,806 Recipients — each receiving at least $250,000” between 2008 and 2011, the report notes. “Each received an (average) of $417,316.”
This would seem to imply that a lot more than farming is being subsidized by the federal government.
“(F)arm subsidies today have nothing to do with ‘preserving the family farm,’” the report reads, adding that small family farms between 2008 and 2011 received only a small fraction of federal subsidies.
“Wealthy investors have piggy-backed on a growing government program and made the largess of farm subsidies part of their investment portfolio. Many of these wealthy investors don’t live in ‘rural areas,’ but instead utilize ‘farm managers’ and taxpayer dollars to maximize return on their ‘farm’ investments,” the report notes.
But, again, this shouldn’t come as too much of a surprise. Media outlets have reported for years that a very small (but elite) group of recipients take the lion’s share of the billions paid out each year by Uncle Sam. Indeed, roughly 10 percent of total recipients account for nearly 74 percentdoled out annually.
The Open the Books report adds this final thought: “Traditionally, farm subsidies have been Republican pork while Democrats had the food stamp subsidies to pass out to their base. Both programs were bound together and passed with substantial support. However, this year the House Republicans separated the bills. This year, in theory, reform is possible.”
There are folks I consider lewd fellows of the baser sort, who in the attempt to be "witty" or "clever", refer to the good people who attend a church as "pew-jumpers" who will try to shove religion down their throats. You know the type. They are the very ones who think it's okay to have Gay pride parades (shoving homosexuality down the public's throat) (or schools shoving condom use down the throats of our 5 and 6 year old children) but don't mention "God" in public ...
(Oxford, MS) A high school choir in Oxford, Miss., is raffling a shotgun to help pay for a trip in 2014 to sing at Carnegie Hall in New York City.
Boosters at Lafayette High School have it as a fundraising tool for years and have raffled things like gift certificates for groceries and even an ATV-type utility vehicle.
But with the first anniversary of the Sandy Hook school massacre this weekend, there are those on social media who say it's a bad idea.
Just over a week ago, Senator Diane Feinstein and Representative Mike Rogers, chairs of the Senate and House Intelligence committees respectively, warned America that we are not safer today from the threat of Jihadist terrorism than we were several years ago. We told you about their discussion on this matter on CNN’s Sunday morning news show, State of the Union, in an email bulletin last week, but it is worth…
by Becket Adams
Close to 100 legislators from 32 states met in Mount Vernon, Va., Saturday to discuss the possibility of adding amendments to the U.S. Constitution through a convention of the states.
Such a convention, as outlined in article five of the Constitution, would allow state legislatures to vote on amendments to add.
No constitutional amendment has been added this way, but some say the Constitution specifically allows for states to use the convention as a means to push back against the federal government.
Two-thirds of the state legislatures, or 34, must approve an application for a convention to occur, according to the Constitution’s article five. State legislatures would then send delegates to the convention, each state getting one vote on proposed amendments. For an amendment to pass and become a part of the Constitution, it would have to be approved by three-fourths, or 38, of the state legislatures.
Lawmakers on Saturday discussed term limits on U.S. lawmakers and certain limits on federal taxation and spending as possible amendments, Red Millennial noted.
State legislators stressed Saturday the bipartisan nature of support for the discussed amendments, citing a recent poll that shows 74 percent of Americans support a balanced budget amendment while another 75 percent support congressional term limits.
Saturday’s Mount Vernon meeting was organized by Indiana state Sen. David Long and Wisconsin Rep. Chris Kapenga.
There has been growing support for the idea of a convention, but there is also healthy skepticism.
Still, regardless of whether one thinks it’s a realistic idea, Virginia and South Carolina have both pre-filed applications for a convention, meaning some are taking the idea very seriously.
Saturday’s meeting represents the most recent attempt by legislators to discuss seriously the possibility of adding amendments to the Constitution through a convention.
You can see more lawmakers’ tweets here.