Immigration March & Rallies (Monday May 1, 11am Justin Herman Plaza --> Civic Center, 5pm Federal Bldg.)

We should try to have an LP presence at one or both of these events. Who else can go? Who's got the large banner?

Yours in liberty,
        <<< starchild >>>

Once on a trip to LA on i 5 i saw a sign at
a Shell station that read.. "Please do not
yell at the clerk, the clerk does not make
price decicisions for the Shell Oil
Company"
The Shell oil company also does not have
control over the world price of oil
expressed in dollars per barrell. Almost
everyone forgets that in the price equation
there are dollars and there is oil. Everyone
wants to blame Exxon or Shell or
Chevron. But what about the other half of
the price...dollars. The Federal Reserve
has been creating dollars out of thin air
like mad ever since it was started.
Sometimes it takes awhile for newly
created dollars to show up in consumer
prices for something like oil and gasoline.
But eventually the money the Fed creates
out of thin air starts to inflate the prices of
things people really need like gasoline but
nobody ever balmes the Fed.People pray
in front of gas stations, and congress
drags the oil execs to Capitol Hill for a
drubbing, all the while fawning over every
word of the Fed Chief.

Here is what Ben Bernanke said before
Congress earlier this week ...

""The FOMC will continue to monitor the
incoming data closely to assess the
prospects for both growth and inflation. In
particular, even if in the Committee's
judgment the risks to its objectives are not
entirely balanced, at some point in the near
future the Committee may decide to take
no action at one or more meetings in the
interest of allowing more time to receive
information relevant to the outlook."
The next day Gold zoomed up to 650 and
the dollar tanked. What the currency and
Gold markets thought Bernanke really
said,was something like... "My boss is in
trouble and told me to forget about
inflation and damn the dollar, I gotta keep
real estate and the stock market up or the
Chimp is taost."

Keynes said that not one man in amillion
can detect the theft of inflation, and he
sure seems right.
and here are a few good posts from my
reading this week on the topic
...
"The last duty of a central
banker is to tell the
public the truth." -- Alan Blinder, Vice
Chairman
of the Federal
Reserve, on PBS's Nightly Business
Report in
1994

and from another post

I think if Bernanke means to stop raising
rates
or even to lower
them, this is wonderful for gold/silver and
commodities. What has
partially held PM's back I believe is that
with
the FED raising rates
at every meeting, people actually thought
the
FED was handling
incipient inflation. What few realized was
that
money supply and
monetary pumping was going up way
faster
than rates, and so the real
result was that money was getting looser
all the
whiles rates were
going up. The FED hiding M3 is part of
that.
What the FED was really
doing was inflating at record rates while
managing inflation
expectations downward.

When they stop raising and start lowering
rates,
inflation
expectations, which are starting to rise
now,
will skyrocket. Also
the yield spread will start to widen with the
long
end of bonds
rising faster than the short end will be
lowered.
This is very, very
bullish for gold and silver.

The real rise in gold the last year has been
that
people who "get it"
are getting a healthy fear of fiat paper in all
currencies, more than
inflation worries. Add to that true inflation
worries and we will be
very happy.
...
got gold?