Extacy of Gold

Gold doesn’t have the capacity to do anything that the Federal Reserve Bank can do to regulate inflation or deflation. Gold doesn't allow money supply to keep up with money creation, which is what happens in a sound economy. Gold is a limited supply commodity that is finite. It won't reach to cover the United States economy and there ain’t a prayer that it can cover the world's economy. Deflation has economic problems that can be just as bad as inflation. If we tried to use it as our currency, we would have massive deflation. Massive deflation leads to money hording rather than investing and banks can’t lend because the value of things are going down. Deflation is mostly associated with depressions.

Let me explain. Remember when real estate was the only sure bet investment? It had real… estate value. You could pass it down to your children. You could live on it, or in it. It had physical size and was tangible. However, its value went up and up and up, far beyond its real affordability. Why? How?

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Extacy of Gold

Gold doesn’t have the capacity to do anything that the Federal Reserve Bank can do to regulate inflation or deflation. Gold doesn't allow money supply to keep up with money creation, which is what happens in a sound economy. Gold is a limited supply commodity that is finite. It won't reach to cover the United States economy and there ain’t a prayer that it can cover the world's economy. Deflation has economic problems that can be just as bad as inflation. If we tried to use it as our currency, we would have massive deflation. Massive deflation leads to money hording rather than investing and banks can’t lend because the value of things are going down. Deflation is mostly associated with depressions.

Let me explain. Remember when real estate was the only sure bet investment? It had real… estate value. You could pass it down to your children. You could live on it, or in it. It had physical size and was tangible. However, its value went up and up and up, far beyond its real affordability. Why? How?

See below...

There's more...

GOP Torn Between Tea Party, Wall Street

MSNBC host Cenk Uygur speaks with Rep. Jan Schakowsky (D-IL) and political analyst Richard Wolfe about Republicans clamoring for huge budget cuts while trying to appease Wall Street which wants to increase the debit ceiling.

 

Texas Tea, A Bitter Cup of Defeat

Though one can't discount the fact the Deborah Medina, the Texas businesswoman turned Tea Party candidate for Governor, received over 272,000 votes, good enough for a 19 percent share, in yesterday's election, there were other races in which the Tea Partiers fielded candidates. The "Take Back America" crowd got left behind at the polls. None fared especially well.

Over in the Texas 12th Congressional District that encompasses Fort Worth, Congresswoman Kay Granger, a seven-term incumbent, had drawn two primary challengers both claiming to have Tea Party support. When all was said and done, Congresswoman Granger defeated anti-abortion candidate Mike Brasovan and north Fort Worth wholesale grocer Matthew Kelly by winning 70 percent of the vote.

Bud Kennedy of the Fort Worth Star-Telegram sheds light on a Tea Party candidate who imploded in a race for the Texas legislature.

The Tea Parties' best chance for a victory was in Burleson, where candidate Darren Yancy was supposed to walk into the Texas Senate after incumbent state Sen. Kip Averitt came down sick and couldn't campaign. Yet Yancy self-destructed.

Voters learned he was suspended as an "untrustworthy" real estate agent by the Texas Real Estate Commission.

He had to explain suing Burleson and a local youth league for $500,000 over a baseball scrap.

He told radio listeners that ACORN wanted to defeat him and that he expects to get "national attention."

He called for shooting illegal immigrants at the border but said he's pro-life.

Oh, and he consistently misspelled Waco's McLennan County as McClennan. Voters were choosing Averitt in early returns.

Looks like the Tea Parties got iced.

It was bitter cup of Texas Tea served yesterday. No incumbent GOP House member in the Texas delegation was seriously imperiled by any of their grassroots über-conservative Tea Party challengers. Their best effort came in the Texas Fourth Congressional District in the northeastern part of the state against the former Blue Dog Democrat turned Republican Ralph Hall where Congressman Hall eked out a 33 point margin win. From the Dallas Morning News

The North Texas congressional delegation held off challenges in Republican primaries, many beating back Tea Party opponents.

And 86-year-old U.S. Rep. Ralph Hall, R-Rockwall, beat five contenders in his bid for a 16th term representing Rockwall County, part of Collin County and northeast Texas.

Hall’s closest challenger was Steve Clark of Heath, who spent more than $300,000 of his own money through mid-February. This was one of the closest primaries in recent years for Hall, who switched parties before the 2004 primary.

“The difference was, I’ve been on the floor of the House till midnight every night working against that health care bill,” Hall said. “I’ve had to be up there doing my job. I was afraid this time.”

Clark tried to appeal to Tea Party voters, as did another challenger, Jerry Ray Hall, who filed to run as “Jerry Ray (Tea) Hall.” Clark said he and Ralph Hall aligned on most issues. But he said it is time for Hall, the oldest member of the House, to step aside.

Rep. Pete Sessions, who leads Republicans’ congressional election efforts, trounced a Tea Party-identified candidate, financial analyst David Smith.

Smith billed himself as “the constitutional conservative candidate” and hammered Sessions on votes for the 2008 bank bailout and Sessions’ support of a moderate candidate in a New York special congressional election last year.

Dallas Tea Party leader Ken Emanuelson now tells us that it wasn't about winning elections. “Our job is to educate people and to get people to the polls,” he said. “We tell everybody to look at the candidates. If the incumbent is the right person, then vote for him.”

Continuing to Grow: Tea Workers Come Together for a Better Workplace

This is part-two of a two-part series of our three day visit with the Solidarity Center in Kenya to meet with workers and look at the tea, coffee, and flower industries.

We spent two days meeting with tea workers and their union in Kerecho and Naidu, Kenya -- working for multi-national tea manufacturers Unilever and Findley. As we drove through the tea region, it was like a never-ending labyrinth or a giant green maze of plants.

When we got to the union office in Kerecho, Kenya, union officials were elated to see the staff of the Solidarity Center. Over the last couple of months, more than 6,000 tea workers joined the Kenya Plantation and Agricultural Workers Union (KPAWU). To help them win more members--and continue to grow--the Solidarity Center provides resources to hire organizers, conduct trainings, and offer communications and transportation support, according to KPAWU branch secretary Joshua Owuor Maywen.

The union, despite having more than 200,000 members in the agriculture sector and representing some of the most vulnerable workers, has still lost density over the last two decades. During this time, companies are trying whatever they can to cut costs, including implementing child labor, mechanizing the plucking industry--according to one of the workers: "the machines pluck everything including snakes and spiders, while the tea pluckers pluck tea"--and hiring casuals or "temporary" workers at lower wages and reduced benefits.

The union is actively fighting against child labor--they're playing a role in the implementation of international labor standards required under the Fair Trade rules, including monitoring of union plants. The trickiest part is  that they are losing union density in the industry - with new plants and factories  popping up outside of the main tea areas to provide stiff competition for the Kenyan tea market by undercutting costs using child labor and low wages.

Stay tuned for more stories of workers struggles as we visit Solidarity Centers all over Africa.

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