I wanted to know more! So I went to the website! What exactly is a time bank?
The following video points out many of the advantages... it also points out many of the problems we've been introduced to via the current monetary and government model we've adopted over the past 100 years. The loss of community, the loss of value to individual efforts and the loss of care or concern for our fellow man or woman.
It is generally accepted that fiat currencies always fail. In all of history they have and it's pretty clear nothing has changed. The USA adopted a fiat currency by Presidential decree in 1971. Who would have thought we would have let Richard Nixon make such an important decision and not question it...
Since 1913 we've had the Federal Reserve slowly devaluing the dollar, we've lost about 96% of it's value since. But it really got rolling in 1971. If you look at wages in anything other than paper... people's wages have dropped dramatically. Take gold,
For me, this one is very simple! Physical Silver! And to a lesser extent, Gold.
With the governments around the world teetering on collapse and in the US, numerous municipalities, states and even the federal government running head long into bankruptcy... this can only boost the run towards something safe. 2011 may be the year we see the end of the EU and the Euro. And with all the secret deals cut behind the scenes between the Fed and the European central bankers, it won't be long after that the US Dollar will also be in dire straights, even with the Chinese kicking in a trillion or two (I tend to believe that's more theatre than reality).
My gut feeling is by the end of 2011 or maybe the early part of 2012, one ounce of Gold will equal the Dow Industrials. Which means gold is either going to go way up or the stock market is going to sell off this Fed induced bubble. Although their doing everything they can to sell the idea the economy is growing and the Christmas season is booming... the January hangover is either going to reveal the forecasts were way too optimistic or the consumer just blew their last wad... in either case by March it will be obvious how bad the situation is. One must also weigh in new regulations (like the idiots at the FCC), the pending Obamacare debacle and the rising Bond interests rates, these all point to further erosion of confidence and hindrances to business growing. In addition, the budget cuts to state and local public services will only increase the drag on the economy... which means either more federal stimulus or QE3. More money printing!
The following graph shows how borrowing has lost its value to the economy... more borrowing is actually reducing output yet the government continues to borrow more!
Small business people tend, to a large degree, to care about their community and generally operate within the law*.
Unfortunately, large corporations are very much, the opposite. Those who live on the Gulf Coast... or in Alaska... or anywhere near a refinery, pipeline or petrochemical plant may understand this entirely too well. Multinational oil companies operate above the law or just disregard it. The United States was a perfect haven for oil companies... being our military was the police force of the world... along with our level of oil consumption, allowed them to operate under a blind eye. Certain communities dealt with issues like minor oil spills and contaminated ground water, but the controlled media kept it from the national attention. And when they really screwed up and it became clear they were screw ups to everyone... they ran clever PR feel good campaigns. It's all about the illusion... it's much easier and more cost effective, to change people's perceptions than to actually do the work.
I was reminded of this when I viewed this Youtube video relating to oil exploration in Ecuador.
Unfortunately, it's not just Equador. As devastating as that story is... the story is repeated over and over. Take Nigeria as another example.
Contrary to popular belief slavery is alive and well. And if you don't believe me... I plan to give you more information than just a statement. What the bigger message is... is that liberty is something worth fighting for and the system we call our government, in the form of our system of justice specifically, has been corrupted to the point that slavery is once again acceptable.
Slavery is indeed a modern day business. Yet the system that supposedly "protects" us from the evils of the world, like slavery, is actually facilitating the criminal behavior and in many cases profiting from it. It is not simply a necessary evil that we've accepted but something that needs to be examined in detail.
In 2006 I was a regular part-time daytrader. I had a day job so I didn't make allot of trades but I did use a six figure margin account I had established with one of the well known brokerages. When 2007 rolled around, I got cold feet and got out. I likened my feeling to looking out over a bay... feeling a strong breeze from the West and seeing the sailboats with their sails unfurled ... sailing WEST! (the wrong direction) Something was wrong and I couldn't quite put my finger on it... but luckily for me... I knew enough.
At the time, I wasn't watching Al Jazeera English but there was a gentleman who had also noticed. Here's his report from May of 2007.
Many States are bound by laws that make it impossible for them maintain budget deficits. However, that hasn't stopped them from promising money they don't have. It has become increasingly clear that states have created another fiscal problem very much similar to what EU Nations are facing. Currently the books say states are behind by about $1 Trillion but a more reasonable estimate is $3.2 Trillion (States only have $2 Trillion in total assets).If you includes municipalities it's another $.5 Trillion!
Needless to say with these defined benefit programs the difference is being passed on to the future citizens who will have to either make up the difference in dramatically higher taxes or face similar situations that we've seen recently in Greece and Ireland.
The smart thing to do would be to address this problem today. Redefine these programs to defined contributions and cap excessive retirement payouts to wealthy state employees and double dippers. The longer we wait the worse the problem will become because most states and municipalities are already overstretched.
Just one more ponzi scheme unloaded on the taxpayer by dishonest politicians. Take a number!
State and Local Government Sponsored Pensions in the hole for $3.5 Trillion - (Video) Fox Business News
**** Update ****
The government solution to the pension problem is becoming clear for the politicians... declare bankruptcy! Newt Gingrich has a proposal! Allow states to go bankrupt! Of course the pensions will be wiped out... but the politicians can keep spending.
When the rest of the world wallowed in misery, wars and striffe during the late 1800's. America grew into a powerhouse. This on the back of a Civil War. Unfortunately, this threatened the elite's control. Our capitalist system became a target and over the last 100 years America has moved from a free market economy to a government controlled socialistic model. Capitalism in common terms today is just a word used to refer to the evil and miserly rich.
However, there is a small but growing group of people that understand that freedom and liberty is a necessity to American's prosperity and that means returning to Capitalism. That starts with understanding what it is and why and how America grew from a small group of colonies to the world's greatest economic engine.
Those who believe in "capitalism" have some learning to do as well. So I'm not necessarily agreeing with everything said in this interview. For example... "Free trade" is not fair trade. In many cases government subsidies can lower the cost of producing goods and thus can create an artificial environment that can destroy competition. Thus, it is in some cases it may be that Americans need to protect themselves and their industries from unscrupulous governments and groups that would slant the playing field in their favor. However, a court system that was effective and instituted "loser pays" would probably be a much better regulating body than government bureaucrats.
This is really scary stuff. And if your investments are in dollars... you may want to think very hard about what is being said.With 40 or so countries currently tied to the dollar the effects of the dollar aren't being seen at home but the edges are fraying overseas. These countries are in effect, holding the dollar up...
Ben Bernacke June 2009 "The Fed will not monetize the debt!"
What is even more scary is those in Congress who think it would be a good idea for China to allow it's currency to float. This would be unbelievably inflationary at the retail end since most of the products Americans buy come from China. This would set the stage for what the Federal Reserve says can't happen.... Stagflation. Prices rising as the economy continues to stall. But this is very possible since we are relying heavily on imports to keep product prices low. With the price of products increasing fast and being sent overseas this will only add to the sour economy.
A problem isn't necessarily a "problem", it could be a challenge or it could just be an opportunity.
Let's consider football for a moment. The team with the ball is presented with a "problem" getting the ball to the end-zone. Staying within the constraints of the rules, a team endeavors to succeed and solve the problem.
This is an example of creative problem solving! Everyone expected a "Hut!" before the ball was hiked, the ball being hiked through the legs of the center. The quarterback moving fast, instead of slowly walking. However, the savvy quarterback did what no one expected.
This also is a perfect example of a OODA loop in action. The time it took the defensive team to Observe, Orientate, Decide what to do and Act was exactly enough time for the quarterback to slowly walk to a point that he could run for the touchdown.
I have always been on the lookout for problems! Problems for me usually also mean opportunity. I have my methods for identifying them as such... it typically means not only looking at the problem but also looking at it's opposite.
Here's one idea I always go by and this is usually why "problems" in my mind, are a good thing. Freedom equals prosperity! Typically when a construction project is in trouble the principles are willing to listen to creative ideas. Freedom to be creative!
The BNL Blog
I'm no salesman but Harvey McCay, a well know author, says that the sweetest event a salesman dreams of is to hear the sound of his or her name crossing the lips of a someone else. But how that is accomplished is... up to the imagination. I would propose listening. Listening to what the potential client is saying. When you have many solutions (products and services of one's group) then listening to the potential client. Is certainly important. Solving problems that would otherwise go unnoticed can make that problem solving salesperson into the first one considered everytime a problem presents itself.
