In episode 50, Phil and John discuss their appearance on GoldSilver.com and the deaths of Chyna (the 9th wonder of the world) and Prince. The brothers also cover Obama’s effective tax rate and the new $20 bill. The topic of the $20 bill stirred controversy last week, but most of the talking heads failed to understand the real significance of the White House and Treasury announcement.
When the Federal Reserve was first created in 1913, a $20 gold certificate could be traded for an ounce of gold to the bearer on demand. Through endless wars and social welfare programs, the Fed has caused the dollar to lose approximately 98% of its purchasing power in just over 100 years. An ounce of gold now costs over $1,200, and the president who opposed all this central banking nonsense is finally being unshackled from the worthless fiat paper he opposed.
If you know someone who is struggling with personal finance in the phony U.S. economy, then please have them contact us for FREE financial counseling.
In episode 49 of the Kennedy Financial podcast, Phil and John sat down with Dave Kranzler of Investment Research Dynamics to discuss changes in the precious metals markets in the first quarter of 2016. The trio also covered Janet Yellen’s meeting with President Obama, the Deutsche Bank metal manipulations admission and the frontrunner for worst news article of 2016! For more information about Dave Kranzler and his work, check out his work.
The story of the Titanic shipwreck is a lesson about what happens when man’s hubris reaches epic proportions. We’ve all heard the story about how the Titanic, thought to be unsinkable, sank to the bottom of the icy Atlantic on April 15, 1912. The ship’s captain, Edward Smith, sought to impress the world with Titanic’s record maiden voyage across ‘the pond.’ Despite knowing his ship could strike an iceberg, he still ordered the record setting pace. The Titanic did indeed strike an iceberg, and approximately 1,500 people lost their lives in an event that was totally preventable.
Like the Titanic, the U.S. economy has had a captain at the helm who is ignoring caution and the lessons of their trade. That person is our Federal Reserve Chairman. Unlike the Titanic though, the U.S. has two captains whose hubris will ensure our tragic ending. In this Kennedy Financial video, we examine the last decade and witness the slow demise of an economy once thought to be ‘unsinkable.’
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There’s a growing movement that suggests “Taxation is theft.” Frederic Bastiat once wrote, “But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”
Regardless of your opinions or political affiliation, President Obama sure makes some compelling points in this Kennedy Financial video!
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