The Argentine economic crisis reflects very closely what is happening here in the United States of America which means we can use it’s lessons to predict what may happen here in the USA.

It was a financial situation that affected Argentina’s economy during the late 1990s and early 2000s. Macroeconomically speaking, the critical period started with the decrease of real GDP in 1999 and ended in 2002 with the return to GDP growth, but the origins of the collapse of Argentina’s economy, and their effects on the population, can be found in action before.

Argentina quickly lost the confidence of investors and the flight of money away from the country increased. In 2001, people fearing the worst began withdrawing large sums of money from their bank accounts, turning pesos into dollars and sending them abroad, causing a run on the banks. The government then enacted a set of measures (informally known as the corralito) that effectively froze all bank accounts for twelve months, allowing for only minor sums of cash to be withdrawn.

Because of this allowance limit and the serious problems it caused in certain cases, many Argentines became enraged and took to the streets of important cities, especially Buenos Aires. They engaged in a form of popular protest that became known as cacerolazo (banging pots and pans). These protests occurred especially in 2001 and 2002. At first the cacerolazos were simply noisy demonstrations, but soon they included property destruction, often directed at banks, foreign privatized companies, and especially big American and European companies. Many businesses installed metal barriers because windows and glass facades were being broken, and even fires being ignited at their doors. Billboards of such companies as Coca Cola and others were brought down by the masses of demonstrators.

Confrontations between the police and citizens became a common sight, and fires were also set on Buenos Aires avenues. Fernando de la Rúa declared a state of emergency but this only worsened the situation, precipitating the violent protests of 20 and 21 December 2001 in Plaza de Mayo, where demonstrators clashed with the police, ended with several dead, and precipitated the fall of the government. De la Rúa eventually fled the Casa Rosada in a helicopter on 21 December.

Amid rioting, President Fernando de la Rua resigns, December 21, 2001.

Since De la Rúa’s vice president, Carlos Álvarez, had resigned in October 2000, a political crisis ensued. Following presidential succession procedures established in the Constitution, the president of the Senate Ramón Puerta took office and the Legislative Assembly (a body formed by merging both chambers of the Congress) was convened. By law, the candidates were the members of the Senate plus the Governors of the Provinces; they finally appointed Adolfo Rodríguez Saá, then governor of San Luis. During the last week of 2001, the interim government led by Rodríguez Saá, facing the impossibility of meeting debt payments, defaulted on the larger part of the public debt, totalling no less than $132 billion.

Politically, the most heated debate involved the time for the following elections—the spectrum ranged from March 2002 to October 2003 (the original date for the ending of De la Rúa’s office).

Rodríguez Saá’s economy team came up with a project designed to preserve the convertibility regime, dubbed the “Third Currency” Plan. It consisted of creating a new, non-convertible currency called Argentino coexisting with convertible pesos and U.S. dollars. It would only circulate as cash (checks, promissory notes or other instruments could be nominated in pesos or dollars but not in Argentinos) and would be partially guaranteed with federally-managed land—such features were expected to counterbalance inflationary tendencies.

Argentinos having legal currency status would be used to redeem all complementary currency already in circulation—the acceptance of which as a means of payment was quite uneven. It was hoped that preservation of convertibility would restore public confidence, while the non-convertible nature of this currency would allow for a measure of fiscal flexibility (unthinkable with pesos) that could ameliorate the crippling recession of economy. Critics called this plan merely a “controlled devaluation”; its advocates countered that since controlling a devaluation is perhaps its thorniest issue, this criticism was a praise in disguise. The “Third Currency” plan had enthusiastic supporters among mainstream economists (the most notorious being perhaps Martín Redrado, current president of the central bank) citing sound technical arguments. However, it could never be implemented because the Rodríguez Saá government lacked the political support required.

Rodríguez Saá, utterly incapable of dealing with the crisis and unsupported by his own party, resigned before the end of the year. The Legislative Assembly convened again, appointing Peronist Eduardo Duhalde—then a Senator for the Buenos Aires province—to take his place.

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Milton Friedman provides a direct and to-the-point defense of capitalism and free trade. He explains how governmental regulations, no matter how well-intended, are inevitably infiltrated by business interests which use governmental power to stifle competition. He also explains the economics of why drug prohibition doesn’t work to control drugs.
This is an old video but it is amazing how these values hold true today and are now more visible then ever

National Inflation Association. (NIA) believes Meltup is the most important economic documentary ever produced in world history. The Second American Revolution has begun! Please share this documentary with all of your friends and family members immediately!

This is a sequel to NIA’s critically acclaimed “Hyperinflation Nation” and its latest documentary “The Dollar Bubble,” which has been viewed over 687,000 times since November 23rd.

The U.S. economy is currently experiencing a “Meltup” and NIA believes this “Meltup” is a prelude to a currency collapse and hyperinflation. Our economy needs to experience a “Meltdown” so that the free market can rebalance it, but by trying to prevent a much needed recession, the Federal Reserve has made a massive devaluation of the U.S. dollar inevitable.

U.S. citizens have not yet felt the pain of the government bailouts, which have deceptively transferred the wealth of the middle class to bankers on Wall Street under the ruse of “too big to fail.” Institutions on Wall Street needed to fail in order to have a truly healthy economy. By bailing them out and rapidly expanding the size of government, we have sowed the seeds of a U.S. dollar hyperinflationary death spiral and the end of entitlement programs Americans have become dependent on to live and survive.

The National Inflation Association is an organization that is dedicated to preparing Americans for hyperinflation. The NIA offers free membership at http://www.inflation.us and provides its members with articles about the economy and inflation, news stories, important charts not shown by the mainstream media; YouTube videos featuring Jim Rogers, Marc Faber, Ron Paul, Peter Schiff, and others; and profiles of gold, silver, and agriculture companies that we believe could prosper in an inflationary environment.

Making friends with meaninglessness, Avoiding the straitjacket of inflicted identity, How and why philosophy brings happiness. Famed philosopher Stefan Molyneux provides his opinion on what the meaning of life is and where it takes us.

Peter Schiff who recently became a home owner instead of a renter ( He admits that he over paid it ) Peter explains in details where he sees thehousing market going , the real estate market is crashing and will continue to decline , do not buy now expecting to make money out of your property ,

Biography from EuroPac.net

Peter Schiff – President & Chief Global Strategist:

Mr. Schiff began his investment career as a financial consultant with Shearson Lehman Brothers, after having earned a degree in finance and accounting from U.C. Berkeley in 1987. A financial professional for over twenty years he joined Euro Pacific in 1996 and has served as its President since January 2000. An expert on money, economic theory, and international investing, Peter is a highly recommended broker by many leading financial newsletters and investment advisory services. He is also a contributing commentator for Newsweek International and served as an economic advisor to the 2008 Ron Paul presidential campaign. He holds FINRA Series 4,7,24,27,53,55, & 63 licenses.

His best-selling book, “Crash Proof: How to Profit from the Coming Economic Collapse” was published by Wiley & Sons in February of 2007. His second book, “The Little Book of Bull Moves in Bear Markets: How to Keep your Portfolio Up When the Market is Down” was published by Wiley & Sons in October of 2008

Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

An epic debate between Stefan Molyneux of Freedomain Radio and Michael Badnarik, 2004 Libertarian Presidential Candidate on the question ‘How Much Government is Necessary?’ at Drexel University, Philadelphia, July 5, 2009 Full audio of the debate available at http://fdrurl.com/phillydebate

Greg McCoach explains what to buy when it comes to gold and silver and what form aswell.
He also gets into where to keep it and especially why not to trust any American Banks.

There is a mention of the likely coming banking holiday, it will not be a pleasant holiday so tread carefully.

Repeat, DO NOT TRUST ANY AEMRICAN BANKS!!! Of course this is all related in the fall of the US dollar.

44 States face massive funding problems. These problems are estimated to persist until 2011. Where will they get the revenue to continue operating?

For those in Pennsylvania who have lost the contents of their safe deposit boxes I would recommend checking auctions from the seller pastatetreasury on EBay.

Delaware appears to be exceptionally proud of their increased revenues. For examples these quotes come from the State of Delaware Comprehensive Annual Financial Report.

From page 10: Key elements of the increase in net assets are as follows:

Total general revenues increased overall $168.1 million (5.1%) with significant increases in tax revenues and interest income. In addition, strong growth in … abandoned property collections, helped offset decreasing personal income tax growth.

From page 14, Other non-tax revenue increased in fiscal 2007 by $66.3 million (16.9%) due to continued strength in abandoned property collections, which grew $39.8 million (12.2%).

It is not dollars, treasuries, bonds and debt that is being sold by your government.

It is you….

George Orwell wrote that, “The great enemy of clear language is insincerity. When there is a gap between one’s real and one’s declared aims, one turns as it were instinctively to long words and exhausted idioms, like a cuttlefish spurting out ink.”

You have probably heard confusing phrases like the trade deficit, the falling dollar, the national debt, unfunded liabilities and so on, which all sound vague and actuarial and vaguely – well, “not me.”

The reality behind these accounting phrases is perfectly monstrous.

When someone — a foreigner, say — loans money to the American government, what are they getting in return?

Well, they are getting promises of interest payments, and eventual repayment of the principal.

Where does your government get this money?

The government is not a business; it does not generate profits in the free market, so where does it get the money to repay its creditors?

Do you see where this is going?

Are you beginning to understand that it is not dollars that are being sold, or bonds, or agency debt, or treasuries, or anything like that.

Where is your government going to get the money to pay off its creditors?

It is not pieces of paper or contracts or computer bits that are being sold.

There is only one thing that the government has to sell.

Governments have only one asset that they can use as collateral.

Your leaders are selling you.

When China lends $800 billion to your government, what they get in return is a guarantee that $10,000 dollars — plus interest — will be taken from your family at gunpoint and shipped overseas.

When a farmer gets a loan from a bank, he uses his livestock as collateral. It is the milk and meat his cows will produce in the future that he will use to pay off his loan.

The bank is buying a share in his cows.

You are the livestock your leaders use as collateral.

The people that you cheer for and throw parades for and drop balloons behind and donate money to are selling you to Chinese rulers, to the Japanese, to the Nigerians, to South American drug lords with accounts in the Caribbean banking centers, to Russia, to Korea, to Egypt, to Colombia, to Chile, to the Philippines, to Malaysia — and anyone else who is willing to give them a few dollars in return for the blood, sweat and toil of your future.

The flag that you praise and the anthems that you sing and the rulers that you weep and kneel before have as much loyalty to you as a plantation owner had to his slaves.

And sadly, plantation slaves had more pride than we do.

Plantation slaves did not generally praise their masters for selling them off, for auctioning off the lives, hopes, dreams and futures of their own little children.

We can understand that cattle may lick the hand of the farmer who lowers an axe to its neck, because cattle are dumb beast that cannot comprehend their real relationship with the farmer, and his imminent plans for them.

What is our excuse?

When we chant “USA” “USA” “USA,” when we cheer and bow and beg and scrape and sing and weep with joy that some new farmer now presides over the wholesale dismantling and sale of our family’s future, when we love with obsessive emptiness the leaders who laugh while they auction us off to every tin pot dictator and stockbroker the world over,what is our excuse?

Has our pride been so broken that we lunge with pathetic joy at every new silver tongued demagogue who pretends to care for us, even a tiny little bit?

In the future, our children will ask why we knelt and cheered as they were sold on the auctioneer’s block.

This video — and my life’s work – is my answer to my child.

What’s yours?

http://www.itulip.com/forums/showthread.php?p=42087
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http://www.treas.gov/tic/mfh.txt fstn
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http://www.iousathemovie.com/

via  http://freedomainradio.com/

Why it is sooo insane for pundits to argue that Obama is having a hard time getting things done because the electorate is sooo dumb!

http://www.slate.com/id/2243797/

http://www.religioustolerance.org/ev_…

http://www.harmoniousliving.co.za/New…

http://social.jrank.org/pages/950/How…