• Swordsmyth's Avatar
    Today, 08:41 PM
    One of the most pervasive myths about the United States is that the federal government has never defaulted on its debts. Every time the debt ceiling is debated in Congress, politicians and journalists dust off a common trope: the US doesn’t stiff its creditors. There’s just one problem: it’s not true. There was a time, decades ago, when the US behaved more like a “banana republic” than an advanced economy, restructuring debts unilaterally and retroactively. And, while few people remember this critical period in economic history, it holds valuable lessons for leaders today. In April 1933, in an effort to help the US escape the Great Depression, President Franklin Roosevelt announced plans to take the US off the gold standard and devalue the dollar. But this would not be as easy as FDR calculated. Most debt contracts at the time included a “gold clause,” which stated that the debtor must pay in “gold coin” or “gold equivalent.” These clauses were introduced during the Civil War as a way to protect investors against a possible inflationary surge. For FDR, however, the gold clause was an obstacle to devaluation. If the currency were devalued without addressing the contractual issue, the dollar value of debts would automatically increase to offset the weaker exchange rate, resulting in massive bankruptcies and huge increases in public debt. To solve this problem, Congress passed a joint resolution on June 5, 1933, annulling all gold clauses in past and future contracts. The door was opened for devaluation – and for a political fight. Republicans were dismayed that the country’s reputation was being put at risk, while the Roosevelt administration argued that the resolution didn’t amount to “a repudiation of contracts.” On January 30, 1934, the dollar was officially devalued. The price of gold went from $20.67 an ounce – a price in effect since 1834 – to $35 an ounce. Not surprisingly, those holding securities protected by the gold clause claimed that the abrogation was unconstitutional. Lawsuits were filed, and four of them eventually reached the Supreme Court; in January 1935, justices heard two cases that referred to private debts, and two concerning government obligations. The underlying question in each case was essentially the same: did Congress have the authority to alter contracts retroactively? On February 18, 1935, the Supreme Court announced its decisions. In each case, justices ruled 5-4 in favor of the government – and against investors seeking compensation. According to the majority opinion, the Roosevelt administration could invoke “necessity” as a justification for annulling contracts if it would help free the economy from the Great Depression.
    0 replies | 0 view(s)
  • Swordsmyth's Avatar
    Today, 08:41 PM
    One of the most pervasive myths about the United States is that the federal government has never defaulted on its debts. Every time the debt ceiling is debated in Congress, politicians and journalists dust off a common trope: the US doesn’t stiff its creditors. There’s just one problem: it’s not true. There was a time, decades ago, when the US behaved more like a “banana republic” than an advanced economy, restructuring debts unilaterally and retroactively. And, while few people remember this critical period in economic history, it holds valuable lessons for leaders today. In April 1933, in an effort to help the US escape the Great Depression, President Franklin Roosevelt announced plans to take the US off the gold standard and devalue the dollar. But this would not be as easy as FDR calculated. Most debt contracts at the time included a “gold clause,” which stated that the debtor must pay in “gold coin” or “gold equivalent.” These clauses were introduced during the Civil War as a way to protect investors against a possible inflationary surge. For FDR, however, the gold clause was an obstacle to devaluation. If the currency were devalued without addressing the contractual issue, the dollar value of debts would automatically increase to offset the weaker exchange rate, resulting in massive bankruptcies and huge increases in public debt. To solve this problem, Congress passed a joint resolution on June 5, 1933, annulling all gold clauses in past and future contracts. The door was opened for devaluation – and for a political fight. Republicans were dismayed that the country’s reputation was being put at risk, while the Roosevelt administration argued that the resolution didn’t amount to “a repudiation of contracts.” On January 30, 1934, the dollar was officially devalued. The price of gold went from $20.67 an ounce – a price in effect since 1834 – to $35 an ounce. Not surprisingly, those holding securities protected by the gold clause claimed that the abrogation was unconstitutional. Lawsuits were filed, and four of them eventually reached the Supreme Court; in January 1935, justices heard two cases that referred to private debts, and two concerning government obligations. The underlying question in each case was essentially the same: did Congress have the authority to alter contracts retroactively? On February 18, 1935, the Supreme Court announced its decisions. In each case, justices ruled 5-4 in favor of the government – and against investors seeking compensation. According to the majority opinion, the Roosevelt administration could invoke “necessity” as a justification for annulling contracts if it would help free the economy from the Great Depression.
    22 replies | 334 view(s)
  • Swordsmyth's Avatar
    Today, 08:33 PM
    The Boy Scouts have decided to accept people who identify as gay and lesbian among their ranks. And girls are welcome now, too, into the iconic organization, which has renamed itself Scouts BSA. So what’s next? A mandate that condoms be made available to “all participants” of its global gathering. It’s among the demands of the World Scout Committee for any host country of a World Scout Jamboree. That would include the 24th World Scout Jamboree, scheduled July 21-Aug. 1, 2019, in West Virginia. The Scouts say: “For the first time, a world jamboree will be hosted by three national Scout organizations: Scouts Canada, Asociación de Scouts de México, and the Boy Scouts of America. These three distinct cultures will join together to host the world Scouting community in a celebration of cultural exchange, mutual understanding, peace, and friendship.” With condoms. Commenting on the condom policy, John Stemberger, president of the Florida Family Policy Council, wrote that “it is not clear how far down the rabbit hole the Boy Scouts will continue to fall.”
    12 replies | 309 view(s)
  • Swordsmyth's Avatar
    Today, 08:30 PM
    The Scouts are dead, I may burn my old uniform.
    3 replies | 74 view(s)
  • Swordsmyth's Avatar
    Today, 08:12 PM
    There are many other solutions, don't fall for the idea that gives the powers that created the problem more power.
    7 replies | 66 view(s)
  • Swordsmyth's Avatar
    Today, 07:07 PM
    He needs to stop using these:
    7 replies | 66 view(s)
  • Swordsmyth's Avatar
    Today, 06:51 PM
    A man fell off a 30 story building, as he passed the 5th floor he was heard to say "so far so good".
    267 replies | 10257 view(s)
  • Swordsmyth's Avatar
    10 replies | 148 view(s)
  • Swordsmyth's Avatar
    Today, 06:34 PM
    Under New Jersey’s new bump-stock ban, which was approved in January, residents were supposed to destroy or turn in their bump stocks by mid-April. So far, New Jersey State Police say, they have not received a single one. Months after a man used a bump stock to quickly mow down 58 people in Las Vegas, seven states now prohibit the sale and possession of the devices, which enable semiautomatic rifles to fire at the rate of fully automatic fire. Bans of bump stocks in Hawaii and Connecticut are currently awaiting governors’ signatures, and lawmakers in Delaware and Rhode Island are expected to approve bans soon. Even though proposed bump-stock bans have stalled in more than a dozen states, gun control advocates who want to rid the country of the accessory are celebrating their existing statehouse victories. They agree with gun owners and police, however, that enforcing the bans will be a challenge. It’s hard to know for sure, but Americans could own as many as 520,000 bump stocks, according to estimates from the federal Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). Many of the devices are untraceable, in part because they don’t have serial numbers. New Jersey is not the only state having trouble enforcing its ban. In Massachusetts, where residents had until February to surrender their bump stocks, State Police received just three devices. The Bay State’s ban, which passed in November, is a felony.
    36 replies | 835 view(s)
  • Swordsmyth's Avatar
    Today, 06:26 PM
    Former Reddit CEO Asks Silicon Valley CEOs to Crackdown on ‘Incel’ EmployeesGet ready ladies, progressivism's next cause: sex with losers to "share the wealth"
    10 replies | 148 view(s)
  • Swordsmyth's Avatar
    Today, 06:18 PM
    It has nothing to do with immigration.
    20 replies | 538 view(s)
  • Swordsmyth's Avatar
    Today, 06:10 PM
    Still trying to keep those who want smaller government divided are we?
    27 replies | 409 view(s)
  • Swordsmyth's Avatar
    Today, 05:13 PM
    Because Trump is literally Hitler we want civilians disarmed and lots of people to join the army? :confused:
    10 replies | 148 view(s)
  • Swordsmyth's Avatar
    Today, 04:46 PM
    Or maybe they said "beaner" to set this up.
    13 replies | 120 view(s)
  • Swordsmyth's Avatar
    Today, 04:26 PM
    Did the Russians just repel another al-Qaeda mass drone attack, similar to the one in January of this year? Though details are still unclear, Damascus-based journalist Danny Makki reports that numerous drones have been downed by Russian air-defenses near Khmeimim airbase (or alternately Hmeimim airbase). In the nearby coastal city of Jableh loud aerial explosions could be heard sometime before 11pm local time — thought to be Russian missile defense systems engaging the drones. The Russian Defense Ministry quickly acknowledged the attack, telling RT News that "An unmanned aircraft of unknown origin has been shot down near the Russian Khmeimim airbase in Syria." And further: "No one was injured in the incident and the base did not sustain any damage," the Russian Defense Ministry said. RT additionally reports, based on the Russian Defense Ministry, that "The flying object came close to the military facility late on Monday and was destroyed by the air defenses of the base. Khmeimim airfield continued to operate normally following the incident." Local sources reported at least four explosions near Jableh, which as yet unverified video appears to capture. Syria: 4 explosions above town of Jablah following new attack targeting Russian Airbase in Khmeimim and activation of air defenses. https://t.co/ZVA16lXIIZ pic.twitter.com/n8oFJ6Mo00 via @QalaatAlMudiq #Syria — Liveuamap MiddleEast (@lummideast) May 21, 2018 Urgent!
    2 replies | 54 view(s)
  • Swordsmyth's Avatar
    Today, 04:22 PM
    I can't say if it is her or not but evil can age you fast.
    27 replies | 548 view(s)
  • Swordsmyth's Avatar
    Today, 03:53 PM
    Thanks to the two black guys and the restroom incident Starbucks will pay off no matter how phony the lawsuit.
    13 replies | 120 view(s)
  • Swordsmyth's Avatar
    Today, 03:44 PM
    A longtime CIA and FBI asset who once reportedly ran a spy-operation on the Jimmy Carter administration, Halper was enlisted by the FBI to spy on several Trump campaign aides during the 2016 U.S. election. Meanwhile, a search of public records reveals that between 2012 and 2018, Halper received a total of $1,058,161 from the Department of Defense. Halper's contracts were funded through four annual awards paid directly out of the Pentagon's Office of Net Assessment (ONA). Established as the DoD's "internal think tank" in 1973 by Richard Nixon (whose administration Halper worked for), the ONA was run by foreign policy strategist Andrew Marshall from its inception until his 2015 retirement at the age of 93, after which he was succeeded by current director James H. Baker. One of the four DoD awards Halper received Halper's most recent award was noted recently by Trump supporter Jacob Wohl, which piqued the interest of internet researchers who continued the analysis.
    267 replies | 10257 view(s)
  • Swordsmyth's Avatar
    Today, 03:40 PM
    As previewed earlier, on Monday afternoon president Trump met with Deputy Attorney General Rod Rosenstein, FBI Director Chris Wray and the Director of National Intelligence Dan Coats, in a discussion of the latest developments in the bombshell report that the Obama administration used a longtime FBI and CIA asset, identified as 73-year-old Cambridge professor Stefan Halper, to infiltrate and spy on Trump's campaign. With the meeting concluded, the White House issued a statement according to which the DOJ said it has asked the inspector general to "expand its current investigation to include any irregularities with the Federal Bureau of Investigation’s or the Department of Justice’s tactics concerning the Trump Campaign" and adds that "White House Chief of Staff Kelly will immediately set up a meeting with the FBI, DOJ, and DNI together with Congressional Leaders to review highly classified and other information they have requested." Full statement below: "Based on the meeting with the President, the Department of Justice has asked the Inspector General to expand its current investigation to include any irregularities with the Federal Bureau of Investigation's or the Department of Justice's tactics concerning the Trump Campaign. It was also agreed that White House Chief of Staff Kelly will immediately set up a meeting with the FBI, DOJ, and DNI together with Congressional Leaders to review highly classified and other information they have requested." Translated: a lot of dirty laundry is about to become public. As Sean Davis points out, the statement confirms Mollie Hemingway's reporting that contrary to claims from the Washington Post and anonymous DOJ officials made last week, "the White House was never on board with Rosenstein's plan to obstruct a congressional subpoena." This confirms @MZHemingway's reporting last week that, contra claims from the Washington Post and anonymous DOJ officials, the White House was never on board with Rosenstein's plan to obstruct a congressional subpoena. https://t.co/kblJVUNcoT — Sean Davis (@seanmdav) May 21, 2018 As Davis also adds, "it's also noteworthy that the White House released a statement immediately following the meeting, before Rosenstein et. al. could start leaking inaccurate information about the White House's position, which is what happened after the last meeting on the matter." More at: https://www.zerohedge.com/news/2018-05-21/white-house-statement-trump-meeting-rosenstein-wray-congress-get-all-highly
    267 replies | 10257 view(s)
  • Swordsmyth's Avatar
    Today, 03:38 PM
    http://www.ronpaulforums.com/showthread.php?522249-Iraqi-cleric-al-Sadr-leads-in-early-vote-results
    2 replies | 55 view(s)
  • Swordsmyth's Avatar
    Today, 03:37 PM
    Zimbabwean President Emmerson Mnangagwa officially applied for his country to rejoin the Commonwealth and invited observers from former British colonies to its general elections in July, Reuters reported May 21. More at: https://worldview.stratfor.com/situation-report/zimbabwe-harare-applies-re-join-commonwealth
    3 replies | 110 view(s)
  • Swordsmyth's Avatar
    Today, 03:32 PM
    The organization Speech First has filed for an injunction against UM President Mark Schlissel, declaring that he and the university have “created an elaborate investigatory and disciplinary apparatus to suppress and punish speech other students deem ‘demeaning,’ ‘bothersome,’ or ‘hurtful.’” From the complaint: “The University’s disciplinary code prohibits ‘harassment’ and ‘bullying’ and further increases the potential penalties if such actions were motivated by ‘bias.’ All of those concepts, as the University interprets and applies them, can capture staggering amounts of protected speech and expression.” In 2016, after the election of Donald Trump, Schlissel told a gathering of upset students who voted for Hillary that they had rejected hate. “Ninety percent of you rejected the kind of hate and fractiousness and the longing for some sort of idealized version of a non-existent yesterday,” Schlissel told the group. By implying that 10 percent voted for “hate and fractiousness,” isn’t Schlissel being “hateful” and “hurtful” to a minority group? Founded by free-speech advocate Nicole Neily, Speech First is an organization concerned with not only responding to violations of the First Amendment on campuses, but aggressively fighting policies that encourage those violations. The organization looks to smash the speech-code culture that has developed on America’s college campuses. And the organization has their work cut out for them. The Foundation for Individual Rights in Education (FIRE) is a free-speech watchdog group that documents the many violations of the First Amendment on college campuses. The group uses a stoplight rating system, with “green” meaning that there is no serious suppression of free speech, “yellow” meaning that the institution bears watching, and “red” meaning that free speech is in definite jeopardy on a campus. In 2018, 32.3 percent of public universities received a “red” rating from FIRE. The University of Michigan is rated “red.” “They (Michigan) have a red speech code, unfortunately,” Neily told NRA TV recently. “It discourages bullying and harassment but it doesn’t define what that is, so it ends up being very much in the eye of the beholder. And, unfortunately, you end up catching a lot of protected, First Amendment speech then and that’s no good. That’s when we have to spring into action and protect our members’ rights,” she continued. More at: https://www.thenewamerican.com/usnews/constitution/item/29101-michigan-lawsuit-targets-bias-response-team-that-threatens-free-speech
    1 replies | 26 view(s)
  • Swordsmyth's Avatar
    Today, 03:24 PM
    On the 18th of May, the Five Star-Movement and the League struck a deal to form a populist government. One of their government’s pledges is to deport half-a-million migrants. A few days before the deal, EU Migration Commissioner Dimitris Avramopoulos stated that he wished Italy would “not change its migratory policy”. The government deal not only changes the migratory policy of Italy, it revolutionises it. The programme calls for the deportation of the 500,000 migrants present in Italy. “Today, there are around 500,000 illegal migrants in Italy (…) expulsion orders are not enough: those who don’t have the right to stay must return to their home countries”, the document said. More at: https://www.infowars.com/new-italy-first-coalition-wants-to-deport-500000-migrants/
    41 replies | 621 view(s)
  • Swordsmyth's Avatar
    Today, 03:21 PM
    The Obama administration paid accused informant Stefan Halper nearly $300,000 for “research” during the 2016 presidential election when Donald Trump was the GOP candidate. Overall, Halper, who was recently accused of spying on multiple Trump campaign aides, was paid over $1 million by the Dept. of Defense between 2012 and 2018 through a variety of vaguely worded contracts. The contracts include “Research And Development In The Social Sciences And Humanities (2012),” “Russia-China Relationship Study (2015),” and the “India and China Econ Study (2016),” according to the web site USASpending.gov. Most interestingly, Halper was paid $282,295 only four days after the Sept. 23, 2016, Yahoo! news article which claimed that “U.S. intelligence officials” were investigating Trump aide Carter Page for alleged ties to the Kremlin. More at: https://www.infowars.com/accused-mole-inside-trump-campaign-paid-by-obama-admin/
    267 replies | 10257 view(s)
  • Swordsmyth's Avatar
    Today, 03:16 PM
    Who cares? Why dig this thread up?
    16 replies | 1246 view(s)
  • Swordsmyth's Avatar
    Today, 03:12 PM
    The Democratic National Committee is deep in debt while the GOP received record donations for a midterm election year. According to data from Soros-connected nonprofit organization ProPublica, the Republican National Committee collected $13 million in April, well ahead of the DNC which only received under $7.8 million in donations, the lowest midterm figure for that month since 2006. Furthermore, the GOP has a total of $43.8 million in its coffers, while the Democrats only received about $8.7 million for the midterms. DNC reports raising $7.8 million in April, lowest midterm figure for that month since 2006. Spent $8.3 million and ended month with $8.7 million in cash. Has $5.3 million in debts: https://t.co/d9421PHHK7 pic.twitter.com/t4bOwInidx — Derek Willis (@derekwillis) May 21, 2018 “Another month of record-breaking fundraising confirms what many in the mainstream media are ignoring: Americans are doing better under Republican leadership. Our country has more jobs, a growing economy, and higher wages, thanks to President Trump and Republicans in Congress,” RNC Chair Ronna Romney said last month. “With our strong grass-roots support, we will continue to work with the president and Republicans in Congress to build upon these achievements.” Earlier this month, CNN admitted in a piece entitled “For Dems, blue wave is now a trickle,” that Democrats were in trouble by noting that primaries in Ohio, West Virginia, Indiana, and North Carolina indicated that “Republican candidates who embraced President Trump and his ‘drain the swamp’ message came out on top.”
    3 replies | 85 view(s)
  • Swordsmyth's Avatar
    Today, 02:46 PM
    President Trump will meet with Deputy Attorney General Rod Rosenstein, FBI Director Chris Wray and the Director of National Intelligence Dan Coats on Monday, where they will discuss the latest developments in the bombshell report that the Obama administration used a longtime FBI and CIA asset, identified as 73-year-old Cambridge professor Stefan Halper, to infiltrate and spy on his campaign. More at: https://www.zerohedge.com/news/2018-05-21/trump-meet-rosenstein-wray-discuss-fbi-spy-op-campaign
    267 replies | 10257 view(s)
  • Swordsmyth's Avatar
    Today, 02:42 PM
    The Trump administration escalated its demands on Iran on Monday while giving Tehran a possible loophole if it wants the US to return to the nuclear deal which President Trump unilaterally cancelled last month, laying out a list of demands that Iran has to satisfy for the deal to be restored, including a stop to all uranium enrichment and halt to Iran's support for militant groups in the region. The administration’s demands were outlined in a speech by Secretary of State Mike Pompeo, which for the first time spelled out all of the administration’s requirements for a new agreement. Pompeo laid out an onerous list of 12 "basic requirements" on Iran which toughened the nuclear demands and called for a wholesale change to Iran’s military posture in the region, that he says should be included. Among the demands listed by Pompeo was that Iran must "stop enrichment" of uranium and never pre-process plutonium. Iran must also allow nuclear "unqualified access to all sites throughout the country." Pompeo also demanded that Iran must withdraw all of its forces from Syria, end its support for militant groups like Hezbollah in Lebanon, stop sending arms to the Houthi militia in Yemen, release all U.S. citizens, and cease its threats to destroy Israel. Some of the requests were a bit more... bizarre: Pompeo calls on Iran to rejoin the “League of Nations” (which existed from 1920-1946) — Josh Rogin (@joshrogin) May 21, 2018 As the WSJ notes, the 12 asks mark a fundamental change from the 2015 agreement between Iran and six world powers that President Donald Trump abandoned earlier this month but which European leaders have sought to preserve. That agreement allowed Iran to enrich uranium under detailed arrangements in return for sanctions relief. Still, while the secretary of state said that the administration wouldn’t try to renegotiate the old Iran deal. Instead, he did just that by outlining the 12 basic requirements for the new deal. “Relief from sanctions will come only when we see tangible, demonstrated, and sustained shifts in Tehran’s policies,” Mr. Pompeo said in prepared remarks. “We acknowledge Iran’s right to defend its people. But not its actions which jeopardize the world’s citizens.” Pompeo said the demands were needed because of the broad nature of what he called Iran’s malign behavior. The U.S., he said, didn’t create the need for the demands, Iran did.
    7 replies | 81 view(s)
  • Swordsmyth's Avatar
    Today, 02:32 PM
    Google was born evil. Their greatest trick was convincing people they weren't, now they have blown that they don't need to pretend anymore.
    5 replies | 79 view(s)
  • Swordsmyth's Avatar
    Today, 02:27 PM
    Russia's President Vladimir Putin said Friday that gas supplies to Europe via Ukraine may continue even after the launch of a new prospective Germany-bound pipeline under the Baltic Sea. The question of whether Ukraine would be frozen out of future Russian gas deliveries is seen as one of the main stumbling blocks for the Nord Stream 2 pipeline project spearheaded by Russia's state-controlled Gazprom. Several European countries object to the plan, including Ukraine, and the United States has warned that it could endanger Europe's energy security. Speaking after talks with German Chancellor Angela Merkel in the Russian city of Sochi, Putin said Russia has no intention of halting supplies of gas to the EU nations across Ukraine's territory after the launch of the Nord Stream 2 pipeline , scheduled for late 2019. Supplies via Ukraine, which relies heavily on transit fees for gas, would continue if they are economically expedient, he said. "We are ready to preserve such transit if it makes sense economically," he said. "It can be achieved in talks with the Ukrainian side, and we are ready for such talks." More at: https://www.marketbeat.com/articles/putin-says-russian-gas-shipments-via-ukraine-may-continue-2018-05-18/?utm_source=idealmedia&utm_medium=idealmedia
    1 replies | 42 view(s)
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Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

Robert Heinlein

Give a man an inch and right away he thinks he's a ruler

Groucho Marx

I love mankind…it’s people I can’t stand.

Linus, from the Peanuts comic

You cannot have liberty without morality and morality without faith

Alexis de Torqueville

Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it

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