Jim’s Quote of the Day:

"In the United States neither paper currency nor deposits have value as commodities.  Intrinsically, a dollar bill is just a piece of paper, deposits merely book entries.  Coins do have some intrinsic value as metal, but generally far less than their face value.  What, then, makes these instruments – checks, paper money, and coins – acceptable at face value in payment of all debts and for other monetary uses?  Mainly, it is the confidence people have that they will be able to exchange such money for other financial assets and for real goods and services whenever they choose to do …







Jim’s Quote of the Day:

"If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible — but there it is." – …










Jim’s Quote of the Day:

“I beseech you therefore, brethren, by the mercies of God, that ye present your bodies a living sacrifice, holy, acceptable unto God, [which is] your reasonable service. And be not conformed to this world: but be ye transformed by the renewing of your mind, that ye may prove what [is] that good, and acceptable, and perfect, will of God. For I say, through the grace given unto me, to every man that is among you, not to think [of himself] more highly than he ought to think; but to think soberly, according as God hath dealt to every man the …










Jim’s Quote of the Day:

“It is painfully difficult to decide whether to abandon some of one’s core values when they seem to be becoming incompatible with survival.  At what point do we as individuals prefer to die than to compromise and live?  Millions of people in modern time have indeed faced the decision whether, to save their own life, they would be willing to betray friends or relatives, acquiesce in a vile dictatorship, live as virtual slaves, or flee their country.  Nations and societies sometimes have to make similar decisions collectively.” – Jared M. Diamond, Collapse: How Societies Choose to Fail or Succeed, 2005