In memory of FRANZ PICK , 1898-1985, rest in peace, atom
Archimedes Plutonium
met, but whom I cherished reading his ideas. And although Pick's
dislike for stocks was an error for him in my humble opinion, his main
idea that paper currency is the opening of Pandora's box is now truer
than before for the USA. So, in memory of my dear friend Mr. Pick, I
want to quote many of his passages and then modify or apply to present
day USA. The thing I liked most about Dr. Pick was his style of
writing, and although I disagreed completely whenever he raised the
subject of the stock market, his argument against paper currency and
gold and real estate I am in near total agreement. I think the readers
out there will get a kick out of reading these Pick Reports and perhaps
some readers can see that the flavor of humor of sarcasm that Dr. Pick
had, is the same with me. I will start it off by quoting his reported
decease in 1985. And I do not know when Usenet or Internet first had
public access, whether in 1985, but I feel sure that Dr. Pick, bless
his soul, if he were alive would be happy to see that he had one
follower, .. amplification-- follower + stock market with gold currency
I have no compulsion to defend myself or Dr. Pick so any follow-ups
will probably remain unanswered by me. I intend to drag this thread out
for a long time and post whenever it nears chopping off of my last
entry.
I start it with the obituary notice.
The New York Times, tues , Dec 3, 1985
page B12
---start of quote---
FRANZ PICK
Franz Pick, an international currency analyst, died of a brain tumor
Saturday at New York Hospital. He was 87 years old and lived in
Manhattan.
Mr. Pick, an ardent advocate of gold as world currency, had been
head of Pick Publishing Company, which put out Pick's Currency Report,
a monthly newsletter, and Pick's Currency Yearbook. He disposed of the
company three years ago.
He was born in Bohemia, now part of Czechoslovakia, and studied at
the Universities of Leipzig and Hamburg in Germany. He later moved to
Paris where he worked as an economic consultant and was paymaster for
the Czechslovak underground.
Mr. Pick came to this country in 1940 and first lived in Chicago. He
moved to Manhattan in the mid-1940's.
He wrote more than 50 books on currency, and gave seminars on
currency theory in this country, South America and Europe.
There are no immediate survivors.
--- end of NYT newsflash----
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> Mr. Pick, an ardent advocate of gold as world currency, had been
> head of Pick Publishing Company, which put out Pick's Currency Report,
> a monthly newsletter, and Pick's Currency Yearbook. He disposed of the
> company three years ago.
Now, I do not want to break any laws. So if I quote too much please
stop me and cite the law to me. I am going to quote from a number of
sources in my own personal collection of Dr. Pick. They are so old that
the papers are yellowing and I thought of photocopying them onto
acid-free, but one of the motivations for me to put much of them on the
Internet is that way I will save them electronically. I wish I could
put his picture which I am staring at now-- the old gentleman-- on the
web for posterity. For I have the feeling that I will not save these
papers once on disc.
Some of the papers were collected by me out in Moab Utah circa 1980.
Then I was able to add to my collection out in San Diego at the
Univer.Cal, La Jolla which has that architectural white elephantish
library.
From "SILVER & GOLD REPORT" copyright 1980
---quoted -----
"THE DOLLAR WILL BE WIPED OUT; THE US WILL ISSUE 1 NEW DOLLAR FOR 100
OLD ONES"
World-famous currency and precious metals authority, in our latest
interview, says governments will continue to inflate, and "gold will go
to astronomic prices." Dr. Pick reviews past currency reforms and says
the dollar is rapidly approaching zero value. Finally, a warning on
keeping precious metals in safe-deposit boxes and the dangers of
investing in certain gold coins.
We first interviewed Dr. Franz Pick, author, currency specialist, and
publisher of the highly respected Pick's Currency Yearbook, in August
1976. Gold prices at that time were collapsing, with some analysts
warning that gold could fall to $50 or $60 an ounce. We asked Dr. Pick
if the drastic decline had shaken his long-standing faith in gold. "Not
in the slightest," he told us. "Gold has no master. It is always
victorious." He also predicted that the US would be forced to adopt a
currency reform within two or three years that would include an
exchange of 20 old dollars for one new "hard" dollar, similar to the
reform Alexander Hamilton imposed in 1789.
That interview was an instant success, with requests for thousands
of copies pouring into our offices from all over the world. When we
interviewed Dr. Pick again in 1977, he forecast the next price runup in
gold would take it to about $165 per ounce, which in fact occurred by
November 1977. In July of 1978, Dr. Pick told us gold would go to "$200
an ounce, perhaps $220", by the end of the year. By December 1978, gold
had reached $226 per ounce.
---end of quoting for now-----
Some choice words as a preview to future quotes from Dr. Pick
"The sins of the US Treasury war on gold have not yet been paid for,
but they will be."
"To observers who have studied currency theory, the end of the gold
price rise is not yet in sight."
"It is the destiny of paper currencies to lose their purchasing power,
and I have seen nothing in the past year to change that fact. We are
now living in the 40th year of the legal expropriation of every owner
of paper dollars in which so-called "securities" are denominated, and I
guarantee you, gentlemen, there will be more expropriation in the
months to come."
"SGR: Do you agree with the recent Federal Reserve actions to stiffen
bank reserve requirements and tighten credit?
PICK: The present Administration is helpless. They don't know what to
do and they take any stupid advice they can get from whatever
overambitious people happen to be in favor at the moment. Washington
cannot master the power of the OPEC countries. Raising interest rates
will not be any great help in reducing the cost of living, and will
only bring about a wave of bankruptcies of small and medium-sized
businesses.
No gentlemen, the US government is not adroit enough to master the
currency problem. There is not one institution of higher learning in
this country teaching a full-time course in currency theory. So how can
the civil servants who run the show for the whole nation learn
anything? Will Mr.Volcker succeed with these measures? I say no. He is
intelligent, but he is against gold, and he cannot cure a currency
which has lost unofficially 93% of its purchasing power since 1940. He
cannot bring it back to life."
Greg Higham
> cannot bring it back to life."
..blah, blah, blah. Kindly go away, sir.
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> From "SILVER & GOLD REPORT" copyright 1980
> ---quoted -----
> "THE DOLLAR WILL BE WIPED OUT; THE US WILL ISSUE 1 NEW DOLLAR FOR 100
> OLD ONES"
Looking at that title now here in May95, I agree the US dollar will
be wiped out. But, I believe it will be a violent and quick act. As
Pick titled one of his later reports VIOLENT VELOCITY. That is how I
think it will go. Some really bad economic news will trigger it. And,
by Pluto, I hope that currency collapse does not trigger a nuclear
holocaust.
> he told us. "Gold has no master. It is always
> victorious."
I loved those above lines. GOLD HAS NO MASTER. IT IS ALWAYS
VICTORIOUS. And applying that thought, not for money, but to physics
and biology to my situation after 1990 when I discovered the Plutonium
Atom Totality Whole theory. Radioactivity and the radioactive elements
have been around longer than humans, than life, and so U, Pu and the
other radioactive elements will be around long after we are gone. They
are more natural than we are, no matter what kind of definition you try
to pin to the word "natural".
Unless Silver & Gold Report stops me, I am going to post the whole of
that Pick interview with SGR Contributing Editor. The world needs to be
made aware of what suicidal trigger they are creating for themselves.
And hopefully some smarter people than our politicians will avert this
catastrophy. As it stands now the politicians are the main architects
of our and our childrens destruction.
-----start of quote from SGR report,1980, with Dr. Franz Pick------
Dr. Pick was born in 1898 in Bohemia. He studied law at the
University of Leipzig, currency theory at the University of Hamburg,
and inflation/deflation theories at the Sorbonne in Paris. His degrees
include BS, MA, MBA, LLD, and PhD.
During World War II, Dr. Pick served as paymaster of the French
Resistance and played a major role in currency intelligence and
underground finance. As a result of this experience, he acquired a
practical education in black markets, and has become expert in this
area which most governments deny exists....
.
.
"The sins of the US Treasury war on gold have not yet been paid for,
but they will be."
.
"To observers who have studied currency theory, the end of the gold
price rise is not yet in sight."
.
.
"It is the destiny of paper currencies to lose their purchasing power,
and I have seen nothing in the past year to change that fact. We are
now living in the 40th year of the legal expropriation of every owner
of paper dollars in which so-called "securities" are denominated, and
I
guarantee you, gentlemen, there will be more expropriation in the
months to come."
"SGR: Do you agree with the recent Federal Reserve actions to stiffen
bank reserve requirements and tighten credit?
PICK: The present Administration is helpless. They don't know what to
do and they take any stupid advice they can get from whatever
overambitious people happen to be in favor at the moment. Washington
cannot master the power of the OPEC countries. Raising interest rates
will not be any great help in reducing the cost of living, and will
only bring about a wave of bankruptcies of small and medium-sized
businesses.
No gentlemen, the US government is not adroit enough to master the
currency problem. There is not one institution of higher learning in
this country teaching a full-time course in currency theory. So how
can
the civil servants who run the show for the whole nation learn
anything? Will Mr.Volcker succeed with these measures? I say no. He is
intelligent, but he is against gold, and he cannot cure a currency
which has lost unofficially 93% of its purchasing power since 1940. He
cannot bring it back to life."
----end of quoted SGR report of 1980 with Dr. Pick-----
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> From "SILVER & GOLD REPORT" copyright 1980
> ---quoted -----
> "THE DOLLAR WILL BE WIPED OUT; THE US WILL ISSUE 1 NEW DOLLAR FOR 100
> OLD ONES"
> > he told us. "Gold has no master. It is always
> > victorious."
>
> I loved those above lines. GOLD HAS NO MASTER. IT IS ALWAYS
> VICTORIOUS.
In 1951, he first published his Black Market Yearbook, the first
attempt by any economist to analyze currency black markets. He has
published Pick's Currency Yearbook since 1955, a standard reference
work comprehensively reviewing over 110 currencies each year.
In 1955 Dr. Pick initiated his now-famous currency seminars which
have attracted top officials from the world's corporations and
governments. His deep knowledge of currency matters has put him on a
first-name basis with the leaders of many nations and central banks.
"THE SINS OF THE US TREASURY WAR ON GOLD HAVE NOT YET BEEN PAID FOR,
BUT THEY WILL BE."
SGR: Dr. Pick, when we first spoke, your final bit of advice was "buy
gold and sit on it." Since then, the price of gold has shot up from
$183 per ounce to over $850. Now there's a lot of talk that the time to
be in precious metals may be drawing to a close. What is your current
outlook on this question?
PICK: Gentlemen, I have been right for 40 years, and my outlook has not
improved. It does not interest me that the so-called experts may not
agree with me. To observers who have studied currency theory, the end
of the gold
price rise is not yet in sight. The sins of the US Treasury war on
gold have not yet been paid for, but they will be.
You know, I have a neighbor across the lawn who is in the bullion
trade, and yesterday afternoon we had a little argument. He roasted me
for about an hour, a real Sunday barbecue it was. We did not see
eye-to-eye about my completely pessimistic outlook and the need for a
reform of the currency. But let me tell you a little story. I told you
before about my tailor who made me a suit in 1945 for $75, and how a
suit I bought last year from the same man cost 900 mini dollars.
Saturday morning I went to see Mr. Stewart about a coat. He
criticized the suit I was wearing and said, " Dr. Pick, a man like you
should have a new suit." I said, "OK, what do you want to charge me? He
held up two fingers.
"You don't mean two thousand dollars?"
He said, "NO--two Krugerrands!"
Mr. Blakely, the craving for gold is increasing every day all over
the world. My tailor, who is 76 years old, knows more than all the gang
of idiots at the US Treasury put together. It is the destiny of paper
currencies to lose their purchasing power, and I have seen nothing in
the past year to change that fact. We are now living in the 40th year
of the legal expropriation of every owner of paper dollars in which
so-called "securities" are denominated, and I guarantee you, gentlemen,
there will be more expropriation in the months to come.
SGR: Do you agree with the recent Federal Reserve actions to stiffen
bank reserve requirements and tighten credit?
PICK: The present Administration is helpless. They don't know what to
do and they take any stupid advice they can get from whatever
overambitious people happen to be in favor at the moment. Washington
cannot master the power of the OPEC countries. Raising interest rates
will not be any great help in reducing the cost of living, and will
only bring about a wave of bankruptcies of small and medium-sized
businesses.
No gentlemen, the US government is not adroit enough to master the
currency problem. There is not one institution of higher learning in
this country teaching a full-time course in currency theory. So how can
the civil servants who run the show for the whole nation learn
anything? Will Mr.Volcker succeed with these measures? I say no. He is
intelligent, but he is against gold, and he cannot cure a currency
which has lost unofficially 93% of its purchasing power since 1940. He
cannot bring it back to life.
I am sorry to say, the situation is hopeless no matter what Mr.
Volcker does. The inflationary process has its own dynamics and the
pattern is always the same. I have lived through the destruction of the
Austrian krone, the Czech koruna, the German mark, the French franc,
the British pound. The scheme of destruction was exactly the same as in
the United States today, with intermittent deflationary trends along
the way. The French franc went through numerous devaluations -- maybe
that is in store for us, too. By debasing the currency, we have
endangered the economic existence of the US. We may be the richest
nation in the world, but our assets are melting away before our eyes.
American currency policy since 1940 has been nothing but an
unbroken series of flops. By the end of October 1979 the unofficial
purchasing power of the greenback had shrunk from 100 cents to only
seven cents. This destruction and irreversible rise in the cost of
living has been hidden by a deliberate lie called the Consumer Price
Index. Most of those who own imaginary paper assets, including cabinet
members, presidents of blue-chip corporations, and pension fund
managers, do not want to know about the decomposition of what they
believe they own. So you see, I have little hope that Mr. Volcker will
be able to single-handedly correct such a bad situation.
"GOVERNMENTS AND CORPORATIONS PREFER TO HIDE THE TRUTH."
SGR: Why do you call the Consumer Price Index a "deliberate lie?"
PICK: The debasement of statistics is as much a part of the whole
scheme as the debasement of the currency. How many people know that the
Consumer Price Index has been periodically and systematically falsified
since 1947, as a result of the gigantic creation of additional
banknotes and bond issues that began in 1940?
The undisputed domination of the United States over the
International Monetary Fund has also led this organization to adopt a
similar system for its statistical publications, which has changed the
base for its cost of living data six times since 1948. But nobody wants
to know about this. The general public, along with the generally
unintelligent investor, must be kept ignorant of their willingness to
lose most of their assets. The press, radio and television constantly
babble about inflation, but they do not analyze the problem in terms of
constant dollars. It is nothing but a massive self-deception.
SGR: For the benefit of our newer readers, Dr. Pick, would you
discuss "constant dollars?"
PICK: The idea of a balance sheet in constant dollars is nothing
new. It arises as a necessity whenever a currency loses its value. The
man who calls himself an "investor," the completely immoral so-called
"securities analyst," the administrator and operator of mutual or
pension funds, the corporate president -- all bear responsibility for
cheating the public, and, what is even more tragic, for cheating
themselves. They do not want to acknowledge that between 1940 and 1979,
by official government figures, the US dollar lost 81% of its domestic
purchasing power, the Swiss franc 78%, the British pound 95%, the
French franc 99%.
Austria, Germany and Hungary in 1920, France in 1922, and
Czechoslovakia and Italy in 1923 adopted constant-dollar balance sheet
methods. Large companies had to have some means of analyzing the real
value of profits. All of these countries created excellent laws that
filled volumes, whose purpose was not only the adoption of figures to
new currencies, but also involving taxes, rents, debts and liabilities.
The currency adjustments worked smoothly and created few complications.
SGR: Are you saying that such laws are needed today in the US?
PICK: Mr. Blakely, I have been trying for years to get governments
and corporations and individuals to revise their accounting methods in
terms of constant dollars, and I have learned only that I will never be
recognized in the balance sheet field.
An executive today who thinks he makes $50,000 a year in reality
makes no more than about $3500 constant dollars, but he doesn't want to
hear about it. What would happen if we forced the practice of making
balance sheets in constant dollars upon America's leading companies? If
we undertook such an unwelcome system of telling the truth, we could
perhaps be on the road to a stable currency, but governments and
corporations prefer to hide the truth. The paper illusion cannot be
erased from the brain and from the pocketbook of the average
individual, nor from the rich or even the super-rich who do not want to
accept monetary truth. Nobody wants to believe himself a sucker, having
accepted the government's propaganda as gospel.
To discuss such facts with government lawyers or to mention them at
cocktail parties of industrial and financial big shots is considered in
bad taste. But they cannot overlook, for example, that one of the
finest flowers of the New York Stock Exchange, the common stock of IBM,
was listed at $53 per share in May 1980, but was really worth only
$9.02 in official purchasing power of the 1940 greenback.
Should we become nasty and disrespectful of government public
relations, we would have to dig a bit deeper in our analysis of
Washington's pseudo-truth and discover that the IBM share is worth no
more than $4.41 in unofficial constant dollars. Of course, this figure
would not be believed by brokerage houses here or abroad. Such
computations make unpleasant reading for "investors." To print them in
the prospectus of a new stock issue or in a promotional folder for some
investment trust would not meet with the approval of the Wall Street
moguls, and I do not think they would appear in the announcements of a
new government bond issue.
"THE PEOPLE ALWAYS LOSE THEIR MONEY ON BONDS."
[MY COMMENTS----The USA has had little experience with the downside
into a currency collapse, a destruction I would say 10 times worse than
the US Civil War. Currency collapse in Europe brought about a Hitler's
Germany which brought about WW2. Some countries can have peaceable
currency collapses, but I for one who have observed US people for 40
years of my life now know that a currency collapse here will be a PU
awful holocaust. The obvious reason I am posting as much of Dr. Pick as
I can, although I disagree totally with his anti stock market, for I
suspect good stock will outlast a currency debacle and the best stocks
are better then gold itself (see German and Swiss companies that made
it through the German currency collapse and WW2), but the reason I post
Dr. Pick is because he tells it like it really is, no sugar coated
poison that you hear from government or stupid security analysts or
even obtuse economists and professors of economy thereto. ]
[from Pick Report 10June1981] CURRENCY BECOMES WORTH LESS AND LESS,
ITS VELOCITY INCREASES MORE AND MORE which, in turn, debases further
the purchasing power of the monetary unit. And that is also why all
attempts by the new currency managers to control the money supply in
order to stop the dynamics of inflation will fail. For each decrease in
the money supply will be neutralized by a speedup in the velocity of
currency and demand deposits. Moreover, what none of the money supply
dogmatists knows, or dares admit, is that the current high interest
rates are a sign not only of a relative so-called tightness of money,
but also that the FORCES OF INFLATION CONTINUE TO FLOURISH by means of
a well-greased credit system that is beyond anyone's control. In the
meantime, much propaganda is being poured out by the news media about
the slowdown in the rise of the cost-of-living as represented by the
official Consumer Price Index. At this stage of currency debasement
where money velocity approaches stratospheric levels, such official
indices - the Consumer Price Index, Gross National Product Deflator,
etc. - subject to political manipulation become meaningless and cease
to be benchmarks of the inflationary process. What should be considered
instead is the sustained daily decline in the standard of living of all
Americans - a condition which cannot be officially measured, but is
painfully felt and known by those who use the Minidollar as a means of
payment.
( My Commentary ---- earlier this year I started posting frequently
about a currency collapse and a PU awful bloodbath that the USA will
likely go through in such an event. Long before the news that the Yen
hit historic highs against the USA dollar. There will be more and more
of this currency fighting as the months go by. And, also I posted long
time ago that Germany has learned her lesson, it is far easier to win
wars with money than ever fighting. The reason East Germany is now part
of Germany is because the Germans know that unero numero, of prime
importance above all else for a nation is to keep the MONEY good. In
this regard, if half of continental USA were of say Japanese
background, with the yen and with time Japan will increase in country
size and the USA politically and land area would shrink further and
further. IT IS ALL IN SIMPLE ARITHMETIC. If the USA wants everything
for free, well of course there money the greenback gets worthless.
Almost half of NYC and Chicago are inhabitated by people who get money
for doing no honest labor for that money. Of course the greenback
becomes toilet paper.
But the quality of Japanese products is far better than US and our
standard of living is VISIBLY going to deteriorate as we go to buy a
Japanese radio or microwave. And of course travelling in Europe will
get to the point that only the President and staff can afford it. Thank
you, thank you kindly charismatic dingbats. US politician =
charismatic dingbats
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> > From "SILVER & GOLD REPORT" copyright 1980
> > ---quoted -----
> > "THE DOLLAR WILL BE WIPED OUT; THE US WILL ISSUE 1 NEW DOLLAR FOR 100
> > OLD ONES"
>
> > > "Gold has no master. It is always
> > > victorious."
> > "It is the destiny of paper currencies to lose their purchasing power, . > > . "
----start of part of 1980 interview with Dr. Franz Pick -------
"THE PEOPLE ALWAYS LOSE THEIR MONEY ON BONDS."
SGR: The Federal Reserve System's financing of continued deficits
through the purchase of government bonds is, of course the main force
behind inflation. What is the real national debt in terms of constant
dollars?
PICK: This is a problem that aggravates me very much. I was shocked
when I finally realized that total public and private debt in this
country now amounts to approximately nine trillion minidollars. There
is no chance of it being repaid with the same purchasing power
originally invested by the buyers of these debt obligations. They are
not bonds, they are certificates of guaranteed confiscation, as I told
you before.
The deficit financing techniques of practically all governments,
unopposed by docile editorialists and glorified by generally stupid
bond dealers, lead to inevitable bond issues which are not backed by
anything harder than hot air. Since most ordinary people, bankers and
company presidents have never studied currency theory, they swallow the
government's propaganda that "a dollar is a dollar." It is impossible,
for instance, to ask life insurance companies to print on their
policies that the nominal dollar is officially worth only 19 cents,
unofficially only 7 cents, and that it will be worth even less before
the year has ended.
If computed in 1940 unofficial constant dollars, not more than
$2,464 still exists of the US $35,200 per capita gross public and
private debt. More than $32,000 has been destroyed by inflation, but
sadly, Mr. Blakely, the owners of this debt do not want to hear about
it. They do not wish to know that there has not been one case in the
history of the world of a government bond being redeemed to the person
who bought it with its purchasing power intact. The people always lose
their money on bonds.
" THE MINIDOLLAR WILL BE ABSOLUTELY AND TOTALLY WIPED OUT."
SGR: Do you still feel, as you told us last year, that the inevitable
result of this situation will be the announcement of a new currency,
the replacement of 20 old dollars with one new one?
PICK: I am sorry to say that I no longer believe a currency exchange of
20 to 1 can solve the problem -- it will have to be at least 100 to 1.
That $9 trillion worth of debt must be accommodated and only by such an
exchange can we start a new economy.
SGR: How would such a currency exchange solve anything? Surely there
are an awful lot of creditors who would stand to lose everything?
PICK: The creditors can hang themselves. Reform must be accepted as
inevitable. The minidollar will be absolutely and totally wiped out; it
will be finally buried and will take into its paper tomb all dollar
debts. Such a worldwide repudiation of debts will lead inevitably,
despite the opposition, to a currency reform, since all assets and
liabilities must be defined in the new currency. The debts of the
corporations will be adjusted to the factual level of the debased
minidollar. Most likely, they will simply be written off according to
the amount of their outstanding bonds.
Top officials all over the world seem to agree that the dollar will
continue declining until it becomes valueless, to be replaced by a
newly created banknote. The exchange of bank notes into one new, "hard"
dollar will wipe out all debts, official and private.
"A CURRENCY REFORM IS NOTHING BUT A FANCY NAME FOR STATE BANKRUPTCY."
SGR: Dr. Pick, in our last interview you said the currency reform could
come before 1980, and evidently it's not going to happen. Does this
lend support to the people who don't agree with your predictions?
PICK: Mr. Blakely, I already told you, the fact that so-called
"experts" do not agree doesn't interest me. I never wanted to be
popular. If I were popular, you wouldn't come to see me. As one of my
banker friends said, "Pick, you are not popular but you are respected."
I didn't steal anybody's assets, I didn't lie to people to make them
lose their money, and I have always fought governments.
The contracting economic cycle has already begun and will perhaps
end in a full-scale depression. This will of course increase the
present unemployment figures and also lead to more inflationary
measures by governments. It will force not only the United States but
also most other industrial nations to proceed with devaluations and
drastic currency reforms in order to put people back to work. I now
believe it will take 12 to 24 months more for the greenback to dwindle
to less than 5% of its official 1940 purchasing power, at which time
Washington will be forced to create the new "hard" dollar. You see, a
currency reform is nothing but a fancy name for state bankruptcy.
SGR: Perhaps this wouldn't seem like such a radical idea if more people
were aware that such reforms have already taken place, in America and
elsewhere. Would you review for us some of these?
PICK: Inflations always run their course until there is little or
nothing left of the purchasing power of the currency unit. After World
War II, most South American countries became victims of the currency
printing press. Brazil called in 1000 old cruzeiros for one new one;
Argentina, Bolivia, Chile, Uruguay all had to reform their currency
systems. Greece exchanged 1000 old for one new drachma. France had a
100 to 1 franc exchange.
America's Continental dollar was first issued in 1775. By 1779 the
amount in circulation had risen from $6 million to $242 million. By
1781, 225 Continentals were needed to buy one dollar in specie coin,
and final quotations ranged from 500-1000 to 1. Finally in 1789,
Alexander Hamilton redeemed one hundred Continental dollars for one
"hard" dollar. Out of the original issue of $241.5 million, only $168.3
were presented for redemption, which simply cost the Treasury only
$1.683 million. The only one to profit was the government.
Of all the numerous currencies created since 1789, very few still
exist in their original form. Practically all of them ended in the
dismal gutter of shame, becoming virtually worthless except for the
paper on which they were printed. All of them eventually expropriated
their owners who had no recourse to the government that created them.
This monetary shame is a substantial, if not the dominating, aspect of
our present civilization.
"WE WILL SEE THE CREATION OF A NEW CURRENCY UNIT WITH SOME LINK TO
GOLD."
SGR: What specific events would bring a radical currency reform?
PICK: Unstoppable inflation, balance of payments and budget deficits,
record gold and silver prices -- these signs tell us that the reform
process is already underway. After seeing the futility of IMF and US
gold sales, the Administration is considering controls for the economy
in the faint hope that this will stop the decline of the greenback.
These plans center around wage and price controls, and lower taxes. The
creation of such controls will immediately lead to "unsupervised" wage
and prices and the controls will flop -- even though the public today
favors such measures.
As the dollar continues to drop, the amateurs in various government
departments will demand stronger controls with heavier penalties for
disobedience -- Iron Curtain style -- and then, finally they will
propose foreign exchange controls. International transfers of capital
would be allowed only under special license, foreign currencies would
be surrendered, gold would be nationalized, and the futures markets in
precious metals would be closed. This will only transfer the trading
activity to Canada, England, Switzerland, Singapore and Hong Kong.
"A CURRENCY REFORM WILL BE IMPOSED WITH SWIFTNESS AND BRUTALITY."
-----end of that part of 1980 interview with Dr. Pick for this
post-------
A@P COMMENT: Where Dr. Pick said that curreny destruction is the main
feature that dominates our political lives in the USA is so very true.
The genetic bringing of this situation started with FDR and that is why
Pick refers to the year 1940 so often. But in 1940, politics of the USA
learned that to get voted in needed only to pass out free money for
votes. You see this pathetic situation throughout the USA where people
from birth live off of the govt with free money for doing nothing.
Human parasites. And most hard working people in the USA now have to
work until June just to pay taxes, those taxes going mostly to parasite
people who do no work for their money. The USA taxpayers have payed for
these USA parasites for 55 years. Now, Washington, via currency
devaluations to the Japanese yen and German mark, hopes to get Japan
and Germany in on the act. Washington, can you believe it, is trying to
arm twist Japan into supporting USA parasites with free money in order
to vote Democratic. Great leadership that Washington is. If Washington
pulls that off, an amazing feat, for then, a Japanese factory worker
who is very productive will go to raising illegitimate bastards who
Washington will send out its master politicians such as Moynihan to
give the message that Democrats will keep the USA parasite system
going.
A@P COMMENT: Dr. Pick obviously jumped the gun as to when the Currency
Collapse would come. He said that in 1980, and this is 1995. I would
predict that within the next 5 years or in the early 2000's something
will trigger it off. Japan and Germany will not play fools to
Washington. Germany already learned that a powerful currency can easily
win back East Germany. If Japan applied the same currency power tactics
with Russia, Japan can easily win back its island (Sakahilin,
spelling?). Japan will slowly learn how to put its currency power to
good use. A powerful currency is much stronger than any physical
fighting war.
A@P COMMENT: Dr. Pick does not mention the biological root causes of
currency collapse. Here I want to touch on it. The destruction of the
USA dollar since 1940 parallels the number of nonworking people in the
USA. If a country gets to the point where 40% of its people live from
money given free to them for not doing any economic work for that
money, then, that system is just a ticking time bomb. At least with a
war, death can come fast, but if you struggle to live through a
collapse in currency, it is nasty, brutish, and nightmarish. Germany
had one of these nightmares in the 1920's and if you asked most Germans
how they felt about it, they would for the most part tell you it was
worse than WW2. In fact, that German currency collapse was the cause of
Hitler coming into power and WW2.
A@P COMMENT: Pres. Clinton, already in his past years in office has
indicated he is not smart enough for the job in the future. He, like
typical Democrat presidents as soon as in power has taken swings at not
the "parasites" of the system, no, instead, Pres. Clinton has attacked
the "workers" of the system. He has tried to chain and hobble the very
best workers of the USA -- the drug companies. Goofball administration,
try to suck more blood out of the very best of USA-- drug companies, in
order to feed more parasites who will vote Democratic Party, Republican
Party is no better. The only party that makes any commonsense with the
deep and profound problems and issues is the Libertarian party.
A@P COMMENT: Americans, I beseech thee, look at Germany with its strong
currency. It was the DM mark that unioned West Germany to East Germany.
Look at Japan, they are a nation of sacrificers, one of the best human
traits to have. If the Japanese sacrifice to have their currency
strong, they can conquer the USA without ever having fired a shot.
Think about it. Think about waking up to find that the dollar no longer
exists, no job, and you see violence and blood running in the streets.
Think about a Currency Collapse.
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> A@P COMMENT: Dr. Pick obviously jumped the gun as to when the Currency
> Collapse would come. He said that in 1980, and this is 1995. I would
> predict that within the next 5 years or in the early 2000's something
> will trigger it off. Japan and Germany will not play fools to
> Washington.
What is the old saying? To get respect, you have to earn respect. And
another saying: give everyone starting out a fair break.
Well, then, Billy Clinton started out his administration to bleed the
very best of the USA, to bleed the drug companies. Why did Billy want
this? In order to increase the 40% human parasites of USA living off
the dole for doing nothing but voting Democratic of course. So, you
earned my respect Billy, your hillBilly Clinton.
HillBilly Clinton promises to balance the USA budget in what 2005?
How many times has a promise like that been made and Kept?
HillBilly Clinton has given us a dollar that makes travelling to
Europe and Japan almost impossible except for the very rich. Thank you
HillBilly.
HillBilly Clinton will soon make high quality cars from Japan an
impossibility to buy. Thank you HillBilly.
HillBilly Clinton? What will happen next Smoot-Hawley for Japan?
Didn't Smoot-Hawley trigger the great depression in the USA? Thank you
HillBilly.
Say HillBilly, you started it with Japan. How will Japan retaliate?
Will they cease from sending any and all computer technology to the
USA? Thank you HillBilly.
Gee, the Beverly Hillbillies must have moved out of California and
into the White House and Jethro is running the budget and trade policy.
Or is Elly Mae helping out? Please tell me if Elly is helping out
HillBilly, that would make me sleep much better tonight.
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> A@P COMMENT: Dr. Pick does not mention the biological root causes of
> currency collapse. Here I want to touch on it. The destruction of the
> USA dollar since 1940 parallels the number of nonworking people in the
> USA. If a country gets to the point where 40% of its people live from
> money given free to them for not doing any economic work for that
> money, then, that system is just a ticking time bomb. At least with a
> war, death can come fast, but if you struggle to live through a
> collapse in currency, it is nasty, brutish, and nightmarish. Germany
> had one of these nightmares in the 1920's and if you asked most Germans
> how they felt about it, they would for the most part tell you it was
> worse than WW2. In fact, that German currency collapse was the cause of
> Hitler coming into power and WW2.
We have the word Balkanization in politics which means "to divide a
nation into small, often hostile units." Perhaps HillBilly Clinton will
see the USA dollar erode on par value to the Mexican dollar before the
re-election campaign in 1996? Will the newspaper headlines blair out a
new political term? The Mexicanization of the US dollar? And will it
cost 10,000 dollars to buy a loaf of bread? And, will the peso be a new
hard currency? Will Mexico be the North American Switzerland and
Americans swimming the other way for a better standard of living?
But this is all going too fast. HillBilly sees us all giving up on
Toyotas and Mercedes and BMWs. Soon the value of the USA dollar will be
such that the streets are full of aeros and converted shopping carts
propelled by lawnmower motors. The political incumbents will be quick
to point out that they put lawnmower motor and bicycle companies into
big business. Thank you HillBilly. Will you be campaigning out of a
USA-made aero?
Remember, HillBilly Clinton just made Europe and Japan vacations
unaffordable to the average hard working blue collar worker. And,
HillBilly is going to cure the ills of the microdollar with trade
sanctions. Forget that trade sanctions lead to wars and the root cause
of the Great Depression 1930. Forget Smoot-Hawley, just because trade
sanctions never, ever solved any past problems, perhaps HillBilly for
once will make trade sanctions work,. . .
Don't Worry HillBilly, the American parasites who get free money for
no work, just your vote are behind you HillBilly. Yup, thar behin,d
ya'all t'way. Just because the dinner table has possum on it and not
steak since steak is unaffordable except to food stamp and welfare
people. Don't worry HillBilly, America will always get out of its
problems.
Say, what is Bob Dole's campaign slogan? "More free dole from Dole,
vote Republican!" Or, "Dole can really dole it out"
I know what the Libertarian party slogan ought to be in the next
election. "Balanced Budget Amendment, live economically free or die"
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
From "SILVER & GOLD REPORT" copyright 1980
---quoted -----
"THE DOLLAR WILL BE WIPED OUT; THE US WILL ISSUE 1 NEW DOLLAR FOR 100
OLD ONES"
"Gold has no master. It is always victorious."
"It is the destiny of paper currencies to lose their purchasing power,
. . "
----start of part of 1980 interview with Dr. Franz Pick -------
"A CURRENCY REFORM WILL BE IMPOSED WITH SWIFTNESS AND BRUTALITY."
PICK: One or more foreign countries would stop accepting US dollars.
There will then be a statement declaring the US dollar in better shape
than ever, and Washington would freeze foreign assets. But all rescue
schemes by Treasury officials or Central Bank executives will not be
able to save the dollar, except by an official state bankruptcy, for
which tranquilizing words will have to be found by the public relations
artists. We will then see a "temporary" moratorium on all debts, as
well as international payments, the creation of a new currency unit
with some link to gold, and the issuance of new bank notes against old
ones. Keep in mind that although these conditions do not seem to be in
the near future, they could be triggered by the refusal of any country
to accept dollars in exchange for its currency or products.
SGR: If the currency reform is imposed, how will it affect such things
as bank accounts and mortgage payments?
PICK: Savings and checking accounts could be blocked under Emergency
Banking Regulation No. 1, but won't be. However, certificates of
deposit might face temporary delays of redemption before new
legislation copes with the problem. Mortgage payments would probably
not be subject to any moratorium in order to maintain the existence of
thrift institutions, which would fold up if their mortgage investments
became valueless. Bonds and preferred stocks would certainly stop
paying interest to their owners which would not only be individuals,
but all kinds of institutions, hospitals and universities. Annuities,
already a ridiculous item, may suspend payments or disappear
altogether. Life insurance premiums would have to be paid; death
benefits would not be affected.
A currency reform completes the expropriation of all kind of savings
of the population. It will be performed with swiftness and brutality;
it will wipe out all public and private bonds, most pensions, all
annuities, and all endowments.
"WITHIN 12-24 MONTHS, THE DOLLAR WILL SHRINK TO 1 CENT."
SGR: Are there any positive results of a currency exchange?
PICK: The positive side would be the consolidation of all public and
private debt, an easing of the budgetary problems of governments and
corporations which means they could float new bonds in the new
currency. But the shock to Wall Street will be considerable, and the
holders of paper in any form-- bonds, preferred stock, or ordinary
shares-- will suffer substantially. There is also the possibility that
taxes will be levied on "all other assets," from real estate to cattle,
art collections, furniture, etc. These domestic measures will have a
wide international influenced, as they will either be copied by most
Western countries, or lead to retaliation by all foreign owners of US
paper certificates without value. How Washington will deal with foreign
governments which own US Treasury bills, as well as bonds, I am not
intelligent enough to tell you. But the present US dollar, within 12 to
24 months, will have shrunk to not much more than one cent of its
unofficial 1940 purchasing power.
SGR: One of your projections -- the refusal of a country to accept US
dollars -- has already come true, in the case of Iran and its oil. Do
you think this will lead quickly to a dropping of the dollar by all oil
exporters as a pricing and payment vehicle?
PICK: Much noise has been generated about this question in recent
months. I can only say, had America maintained a stable dollar, there
would not be any kind of OPEC problem. The leading OPEC powers have for
quite some time already repudiated the minidollar when they broke their
currency links to the debased greenback. Nigeria made her naira a
floating unit in April 1974. In March 1975, Kuwait attached her dinar
to a basket of currencies, while Saudi Arabia disengage the riyal from
the minidollar and linked it to the IMF's "Special Drawing Right." At
the same time, the Qatar riyal and the United Arab Emirates dirham
severed their ties to the greenback and became controlled, floating
currencies. So if the oil producers finally replace the minidollar with
some other scheme to guarantee the value of their receipts, it will
only be the open acknowledgment of a de facto situation. The only
tragedy will be for the foolish who still buy US government bonds
guaranteed by the "full faith and credit" of those who miserably
mismanage the currency.
It is redundant to stress the certainty that most OPEC countries
will continue to buy gold, via the West German banks, pushing the metal
to much higher levels in minidollars. Naturally, their holdings of US
Treasury bills and bonds will not only decline, but come to an end,
since gold has so far yielded more dollars that the holding of bills
and bonds has done. Therefore, the long rows of gas-hungary automobiles
will be the best promoters for hoarding gold or buying gold options. I
cannot say whether the OPEC countries will decide to sell their oil
only against payment of bullion, but should this happen the market
price of the metal will jump again, and the dollar will drop to much
lower levels.
"GOLD WILL GO TO ASTRONOMIC PRICES."
SGR: Are you worried that the new Treasury policy of holding "surprise"
gold auctions will add a new element of uncertainty for gold investors?
PICK: Look, the Secretary of the Treasury comes to the job up to his
elbows in manure from earlier bribery accusations, and he knows nothing
about currencies. The top currency people in West Germany refer to him
as a "complex-ridden upstart."
-----end of that 1980 interview with Dr. Pick -------
My Comments: As I said all along in these posts of Dr. Pick, I
disagree with him concerning stock securities after a currency
collapse. Stock made it through the German hyperinflation and currency
collapse. I figure that if you have stock in a currency collapse, you
must plan to wait in the new era of a new currency and the old stock
will carry through. Of course there is no guarantee, but it is plain
obvious that the producers of the world-- companies -- will resume
producing after a currency collapse and produce again in the new era
with a new hard currency. I think stock of great companies is even
better than gold or diamonds. And of course better than land or real
estate. In a currency collapse the essentials are staying alive in the
midst of all the bloodshed and violence. One of the things you would
not want to be tied to is protection and defense of property, instead
you would want to get away to a place in the world where the USA
currency reform is just an evening news item. Such as some South Sea
island or some country that is far removed from the bloodshed and
violence.
Dr. Pick really does not go into depth as to the root cause of all
of this horrible and ugly fate of a nation's currency. The root cause
is the giving away of free money for no work, welfare, food stamps,
entitlements, and on and on. Politicians love to give free money in
exchange for votes. The USA has been doing this at a rampant pace
starting 1940. It is so grave that in some USA cities almost 40% of the
residents live by doing nothing but walk to the post office or bank for
their free money, and of course vote for the politician who promises
more.
Reading Dr. Pick's conversation of 1980, I am not surprised with the
latest turn of events with the Stock Market hitting new alltime highs.
When a currency goes valueless, it seeks flight into anything which may
preserve value. And it is very, very , very surprizing to me to see
that most people know there is a direct connection between Stock
Market, trade wars, currency collapse, and fighting wars. Because in
this complex mix was the cause of the 1987 plummet in the Stock
Markets. It was that Germany was no longer going to play follow the
leader to the USA. And by all human rights, no country should be
coerced into accomodating the living standards of the citizens of the
USA of which 40% are parasites. That is why gold was the best form of
money, it kept populations in line with a natural growth rate. When a
currency is just paper and paper in the whim and fancy of dimwitted
politicians, or what I like to call politicians --- charismatic
dingbats. With time that country will go to hell in a handbasket over
its paper money. Then a bloodbath such as a fighting war, or perhaps a
civil war or something like in the movie Road Warriors will await the
USA in the midst of a currency collapse.
The recent signs are ominous. A trade war with Japan over luxury
cars. Trade wars if they escalate are the harbingers of a fighting war
to come in the future. But a trade war is an awful thing for it could
escalate to the point that many many connections of international trade
are disrupted all of which means our standard of living melts in front
of our eyes. Just in the last two months we USAers have to pay 20% more
for a vacation to Europe or Japan due to the downward spiral of the US
dollar against the DM or yen. Soon we will no longer be able to or very
difficult to buy a Japanese luxury car at a good value. What next?
Countries with bananas, coffee, chocolate, oil, chrome, diamonds, all
want their goods payed for in gold? That would certainly trigger a
currency collapse of the US dollar.
And you hear Washington talk of balancing the budget in 2002, just
talk so Dole can get public attention. Dole had not done anything
constructive for the budget in his entire career, and does anyone
really think he will start now?
What Clinton ought to trade for next with Japan is give half of NYC
and half of Chicago for Tokyo. I say that because half of USA cities
are at the point where half of those residents get free money for doing
no economic work for that free money. But in Tokyo, noone gets free
money. So HillBilly Clinton forget the luxury car trades, please start
trading off USA welfare and entitlement people and programs for say the
Mitsubishi Trading Company. Yea, HillBilly, show us you can be smart
and not just a charismatic dingbat.
You know they made a movie called "The Day After" about a nuclear
war. But I think a movie called "Day After US Dollar Disappears" is
almost as, or more so frightening. I doubt any job will be left except
the military and I cannot see them killing their own kind. What would
you do on such a day, for you know the angry will be very violent and
panic and you know USA has guns in almost every house.
A bright spot though. I expect the CEO's of major world companies to
start to prepare for this currency collapse. It will be the CEO's who
after the collapse will rule the planet. No longer will the world put
up with charismatic dingbats who cannot see anything except or beyond
their own election terms. CEO's of the major corporations, prepare, for
you in cohort will rule the world with your corporations private money,
especially the big food companies such as Nestle and P&G.
Our present political system of elected officials died in 1940 when
voting meant buying votes via paper money. The future political system
that replaces it is a governing body of all the major producers (major
companies) of their CEOs. Retired CEO as obligation to the world form a
world political body and pass the laws. These groups of persons, these
retired CEOs of major corporations are an organization of what could be
called benevolent dictators.
AT present our charismatic dingbats never want to solve any of the
major world problems, they for the most part are incapable and even too
stupid to recognize them as problems. See how Clinton's first major act
was to hobble the finest of the USA by trying to strip the USA drug
companies. No, the world's major problems are (1) overpopulation and
define what is a comfortable world population so that the people alive
live comfortably and can say "it is great to be alive" and once defined
draw measures to meet that supposedly optimum population size, so that
we do not rely on more wars whenever population gets out of hand (2)
get rid of all paper currencies and make all currencies in relation to
a basketful of hard things, gold being one of those hard things (3)
rethink the taxing of people so that it has an international basis,
because the planet is getting more international all the time, but of
course under a world CEO ruling body there are no taxes because the
needs of things like roads or bridges or the coining of money are all
privatized and companies need roads to deliver their goods.
The day when major companies rule Earth is getting closer all the
time, and it is becoming more and more obvious that elected government
officials is tending towards extinction. A currency collapse of the US
dollar will be the deathknell of elected officials. . . sinanora
good riddance
Readers out there, please take a guess at where the President of the
USA and his cabinet will go when a USA currency collapse and subsequent
bloodbath in the streets of the USA violently come in. Will he retreat
into that shelter underground in that mountain in Colorado? Or will he
have his own special submarine all decked out?
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> From "SILVER & GOLD REPORT" copyright 1980
> ---quoted -----
> "THE DOLLAR WILL BE WIPED OUT; THE US WILL ISSUE 1 NEW DOLLAR FOR 100
> OLD ONES"
In Late February 1981 Dr Franz Pick was contributing editor to SGR, and
the title of this article was
"40 YEARS OF DOLLAR DEBASEMENT CANNOT SUDDENLY BE REVERSED"
I am going to include my own fictionalized commentary as if I were
talking to Dr. Pick. Realize that this was Feb1981 when Dr Pick wrote,
and my comments are May1995
PICK: The new administration has floated into Washington on a tide of
hopes and fears that the monetary crimes which have been committed
against the Greenback for the last 40 years will soon be undone.
New buzzwords have been invented and magical incantations intoned
that the degradation of the Minidollar will stop via tax cutting,
supply-side economics, and a balanced budget -- a document that does
not include all of the billions in off-budget debt.
ME: Agreed Dr. Pick, and it seems that previous presidents, not so
much Bill Clinton have made fronts for there administrations. Fronts
that make the generally apathetic and dumb masses feel as if something
is done for the utter destruction of the dollar. Administrations pluck
the newest economic "no-nothing" professor who has some "jingo" that
people can understand and for four years that massages, lulls and
soothes the large masses of dumb people. The day they wake up and find
all their paper money and all its equivalents are worthless but for the
paper printed on, then the politicians with their accompanying goofy
goofball economist are long gone. It just matters who the president in
office is, when the currency collapse materializes.
PICK: The new sorcercers are just as adept as the old ones in
spinning the fairy tales of so-called "economic growth," reduced
unemployment and declining price levels. "THE MISMANAGEMENT OF THE
DOLLAR IS SIMILAR TO THE MISMANAGEMENT OF THE POUND STERLING, WHICH
EVENTUALLY FORCED THE LIQUIDATION OF THE BRITISH EMPIRE."
ME: I concur Dr. Pick. And was it not Keynes who arose when the British
Empire was in the midst of its decline? And was it not Keynesian
philosophy that was soaked up by FDR administrations. Could we not say
that starting with FDR, the USA as a nation is driving to
hell-in-a-handbasket? And when the history books write of the USA
political system from 1940 to present 1995 that the USA was not a
capitalistic democratic society but instead was a parasitic vote for
entitlements society? Would it not be fair to say that in a hundred
years from now after the USA currency collapse and a newer and better
society run by retired CEO's of major world corporations, that all the
USA presidents from FDR onward will enter the Hall of Infamy, a little
better than the Hall of Criminals Fame?
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> In Late February 1981 Dr Franz Pick was contributing editor to SGR, and
> the title of this article was
> "40 YEARS OF DOLLAR DEBASEMENT CANNOT SUDDENLY BE REVERSED"
>
> I am going to include my own fictionalized commentary as if I were
> talking to Dr. Pick. Realize that this was Feb1981 when Dr Pick wrote,
> and my comments are May1995
PICK: Yet, the plain fact is that the new ruler of the United States
has inherited what is probably one of the shabbiest currencies in the
history of money. The once omnipotent Dollar, that was the glory of the
globe at the end fo World War II, had by the beginning of 1981 lost 83%
of its official prewar purchasing power and 95% of its unofficial
buying value.
ME: Yes, Dr. Pick, this gives away my age, but I remember candy bars
for 5 cents, and my mother would buy 3 large grocery bags full of food
plus an added sack of potatoes all for 5 dollars. Yes, Dr. Pick I see
so well what you mean by the utter destruction of the "money" itself. I
suppose when such currency destruction finally collapses, people will
have a bloodbath at the grocery store like in the Road Warrior movie .
.
PICK: These facts have never been publicized by the government or the
orchestrated press, nor have they been discussed on television. The
banking system and the stock exchange community including its assorted
indices have continued to ignore such details.
ME: Yes, I see that clearly. And I love your choice of word
"orchestrated". For the press and TV pretend as if they are above a
decayed system and can stand above the decay and point out the true
facts so that people can make intelligent decisions. But the press and
TV do not. For instance, when does TV or the press show the statistics
of how many people in the USA live and eat from money that was earned
by work, actual work. And then how many in the USA live and eat from
money that was given out for free under entitlements, welfare, food
stamps, and the many many give-away programs? How many times has the
orchestrated press gone through cities of the USA and shown the reality
of a "parasitic society"? The only times the orchestrated press and TV
ever displays the parasitic USA society is when they report the crimes
that are part and parcel to a parasitic society going to hell in a
handbasket.
By the way Dr. Pick, the current president, Bill Clinton is slated
to speak here at Dartmouth on June graduation. Will Bill say to the
audience that they have a social net should they not find a job. That
they do not have to go out and find a job but instead can live off USA
welfare and never have to work a day in their life? That they can get
free money (implicitly free in exchange for voting ) and can go
knock-up women who can get more welfare free money. Will Bill announce
to the Dartmouth graduating class of 1995 that the USA in 1930 had
virtually no human parasites, but now in 1995, 40% of USA people are
parasites? Will Bill hold up the back page of the IRS tax form which
shows the pie of where each dollar is spent as proof that 40% of USA
live off as parasites the other 60% of USA people? And will Bill ask
the graduating Dartmouth students to go out there and gladly work hard
from Jan to June of each year in order to keep the free loafing welfare
sluts in 8 illegitimate bastards with their pimps doing crime? Will
Bill Clinton make that the Dartmouth 1995 graduation speech? I hope so,
because then Bill will be the first truthful president of the USA.
Archimedes Plutonium
Archimedes...@dartmouth.edu (Archimedes Plutonium) writes:
> In Late February 1981 Dr Franz Pick was contributing editor to SGR, and
> the title of this article was
> "40 YEARS OF DOLLAR DEBASEMENT CANNOT SUDDENLY BE REVERSED"
>
> I am going to include my own fictionalized commentary as if I were
> talking to Dr. Pick. Realize that this was Feb1981 when Dr Pick wrote,
> and my comments are May1995
PICK: As for the generals in the Pentagon, they have been completely
indifferent to the deterioration of the American monetary unit which,
unfortunately, has destroyed most of what was once Washington's
political superpower superiority.
These developments are easily readable from the chronology of
budgetary deficits and balance of payments shortfalls in the post-World
War II era. They remind the currency analyst of the dilettantish
mismanagement of the Pound Sterling in the postwar years of 1919-1931,
which eventually forced the liquidation of the British Empire.
"ALL POSSIBLE PUBLIC RELATIONS TECHNIQUES HAVE BEEN USED TO
TRANQUILIZE THE HOLDERS OF NEARLY US$1 TRILLION OF GOVERNMENT DEBT
CERTIFICATES."
ME: I concur Dr. Pick, for I notice that Germany has learned from its
awful currency collapse in 1920's which created the Hitler holocaust,
that keeping a strong currency equates with keeping a peaceful nation.
That devaluing a currency which the USA has done, means over-population
where the food supply cannot handle it and thus a ticking time bomb for
the next war to arrive and to reduce the population into a better
balance.
Germany had learned the hard way about currency and to keep the
currency strong and that is why East Germany is now part of Germany
without ever firing a shot. But pitifully, it looks as if the USA is
going to have to be taught this lesson. USA politicians are so arrogant
that they think this country is above everything. USA politicians which
I call Charismatic Dingbats never plan ahead. The USA will relearn the
lesson of Germany in the 1920's. Only history never repeats. Perhaps
the USA will have a civil war bloodbath in the streets Road Warrior
style. Or perhaps a trade war with Japan all due to, that is, the
trade war was originally caused by Washington wanting to destroy its
currency to make the USA a 60% workers and 40% voting parasites living
off those workers. A trade war caused by curreny devaluation of USA
which leads to a World Depression a la 1930 which leads to WW3 of a
nuclear war.
Mark LaRochelle
run-on sentences, we might think you were not a wacko.