Episode-951- AOCS in Washington and the Future of Private Monetary Systems — 34 Comments

  1. Happy Birthday Jack, I can say that my life has been enhanced thanks to you and The Survival Podcast!

  2. Happy Birthday to my long distance mentor that I haven’t met yet!
    Thanks for all you do,

  3. Happy Birthday Jack!

    I watched the live broadcast online and did enjoy it. While the room seemed a little empty, I hope that this is the first step of many to come by Dr. Paul once he’s free from his political chains.

  4. Happy Birthday as well Jack!

    I’m looking forward to listening to this episode, and viewing the video/audio when you post it.

    Thanks for all you do, and have done, for all of us.

  5. Happy B-Day Jack,

    So listening to your explanation of exchange… How do we make the argument that labor for wages is not INCOME/PROFIT? It is barter. The whole idea of tax on wages is corrupt. I lose money every year, i am not breaking even. MY value of my time working for wages is an equal exchange for the wages. I know that you know this. We needed some common exchange unit to hold value. I might not need apples right now and I will pick them for you. However, i need something a medium of common value that i can barter/trade at a later date to equate my labor to the apples I picked. That is not income i broke even, i have not gained. I have been trying to explain to folks that “you” getting paid in chickens/tiddly winks/beads is not a profit for your labor. I either run into “oh well what can you do”, or they just are so deep in the matrix that the concept is unfathomable, blank stare. They just don’t get it. Even in barter, my tax-accountant friends made your same point that the IRS tries to tax that and/or have it reported, “you profited”. If we could just wake people up to this idea it would spark a critique on so many other gov intrusions.

    Thanks, Kiran

    Happy B-Day, one more time.

  6. .
    Great show and Happy Birthday.

    On todays show you said,

    (the government’s view is)
    “.. it’s not worth anything, so we’re gonna TAX it….”

    That reminded me of another example. The Prohibition of alcohol…
    “…Alcohol is illegal. You cannot manufacture, transport or sell it,… unless or until we TAX it, then it’s ok…”

    How is our government any different from…

    Conversion to Islam?
    “…either convert, be be-headed, or PAY A TAX.”

    Or, a Mobster?
    “Your business needs protection… fire, theft, vandalism, you need to pay a FEE to aviod such things… (not a tax, but the same result – “an offer you can’t refuse” and theft .)

    Just a thought.

  7. Happy birthday from downunder Jackmiester, you’re only a few years ahead of me, how the Hell did you get so smart! Have a good one I enjoyed the show as always 😉

  8. Can’t wait to listen to this episode – I’ve skimmed the speech and it looks awesome.

    Happy birthday, Jack – you’re preceding me to 40, but not by much. 😉

  9. Jack,
    Congrats for the birthday! I thank your for your service both now and as a fellow Veteran. I hope even if the day is quiet, Your special day gets acknowledged even if only with your family and special friends. Blessing to you and yours , Grog May you have many many more.

  10. Happy Birthday Jack. I e-mailed you the following link before having an opportunity to pull up this page or listen to today’s podcast. Sheer coincidence. Enjoy Dr. Ron Paul’s last sub-committee hearing on monitary policy, legal tender laws, and parallel currencies in its entirety here:

  11. Happy birthday once again. I’ve almost completely stopped listening to the radio due to your podcast. The radio rarely says anything you can do about various problems they just say it’s bad over there. So keep up the good work. Btw 40 is not so bad (so far lol)

  12. Rob’s statements could be put alongside Galt’s radio speech – right out of Atlas Shrugged (published in 1957). Well done Rob and Jack.

  13. Hi Jack and MSB community,

    I heard you mention the front yard garden issue, and I recently saw a story about storing water. A man in Eagle Pass oregon is going to jail for installing a few ponds on his property, which he said was mainly for fire prevention anyway. I think it is ridiculous that Colorado and Oregon won’t let people store water from their property. People are being sued for making farm ponds and jailed for having a water tank.

  14. It is a shame that the testimony was a little too harsh, and could be easily used to turn off people on the fence and convince them that ”Audit the Fed” people are crazy and nutty.

    While the anger at the Fed is justified, taking a confrontational tone is not good because most people are not really on the loop and are just going along to get along. The letter should have been directed to Bernanke in person at least.

    But great to see people doing something, I just felt that it was a little harsh.

    • I sensed nothing harsh or crazy or nutty about that at all. It’s the cold hard truth, and it’s about time somebody kicked those assclowns in the ass and told them to do their jobs. I hope there’s a video out of it – Jack did a great job reading, and I read the transcript myself, but I really want to hear Rob commenting in his own voice, see his facial expressions, and maybe most importantly see the facial expressions of the assclowns. I wonder if there was Q&A afterwards too? That would also be very interesting to see.

  15. The sentiment is laudable. Ignoring them is only the first step.

    Per my regular routine, I listened to The Survival Podcast on my way to work. The August 2, 2012 show was titled: AOCS in Washington and the future of Private Money Systems

    Following that, I found this blog post by Karl Denninger linking back to the address made by AOCS representative, Rob Gray.

    So, I heard the same thing in three different places. Since Rob Gray is the original source, I will address my views to his words:

    The rest is on my (insert shameless plug) blog here.

  16. Great show – some thoughts…

    1. We’ve talked recently about how they want a cashless society – seems to me this throws a big monkey wrench into that if we don’t even need their stinkin’ FRN cash in the first place!

    2. Talked recently about income tax vs. property tax, and this episode really hit home the income tax on “profits”. If they tax my wage income earned via my own labor, they are basically saying that the value of my labor is zero (or I guess the “standard deduction” anyway) and that I just got this windfall of profit money that they deserve a fat slice of – what a crock!

    3. Sales tax on barter… it’s still a “transaction” – do states try to collect sales tax on barter? If they don’t yet, I’ll bet they’ll try to in the future. Of course if it’s done under the radar, makes it hard.

    4. Has Rob taken any heat yet from any state/local gov’t or the feds? Are there some states that are friendlier to barter & competing/local currencies than others? Nevada just lifted sales tax on bullion, so I’m loving that!

    • Oh the other thing I forgot – the “bond as a promise to tax” – that was great! I understand it, but wish you had gone more into depth on the ramifications of that; maybe in another episode, cuz that really is a profound and accurate way to think about it. Although technically I guess it should be “as a promise to tax… or print!” Do you have a link to the RT video where the guy said it? Would be cool. Thanks!

      • Yes. I forgot that nugget of “bond as a promise to tax”. Seriously, my brain just seized up at that moment and I almost wrecked my car. (well, not really, but it was a lightbulb moment).

  17. Lightbulb moment for a lot of listners. IMHO: dump your “secure” positions, go short, ride it, or just go short & “ride it”.

    Disclaimer: Note: who am I, I’m just a beatoff who listens to another beatoff who provides his opinion about markets. I am merely stating my own opinions,