Free Republic

Socialism: As the U.S. fixates on ObamaCare, south of our border another "free and universal" health care system is collapsing, according to a report from the Associated Press. It's an uneasy portent. The idea of free, universal health care has always seemed like a perfect solution. At least that was the thinking behind Venezuela's constitutionally enshrined "right" to free health care since 1999, winning the late President Hugo Chavez a lot of elections and seeming to be the logic behind ObamaCare. But post-Chavez, Venezuela's health care system is a shambles. Massive shortages of basic supplies plague both public and private...

Moments ago BitCoin hit $395, and will likely cross $400 in the immediate future (the chart looks a little less scary in log scale). So as more and more pile into the electronic currency, some due to ideological reasons, some simply to chase momentum, some out of disappointment with the manipulated gold price looking to park their savings in an alternative, non-fiat based currency, which a year ago traded 40 times lower, the attention of the government is finally starting to shift to what has been the best performing asset class in the past year, outperforming even the infamous Caracas...

An essay comparing the collapse of the Tacoma Narrows Bridge, 73 years ago today, to the near future collapse of the American civil society, from a blogger with the FR Seal of Approval. -- I. TACOMA NARROWS 73 years ago today, the Tacoma Narrows Bridge in Washington State collapsed. The way in which it collapsed was brought on by a positive-feedback situation, where the destructive force was only bounded by the structural integrity of the bridge itself. There are some serious lessons in this collapse for the future of American society. First, let's get a basic understanding of why the...

In the first three parts (Part 1, Part 2, Part 3) of this disheartening look back at a century of central banking, income taxing, military warring, energy depleting and political corrupting, I made a case for why we are in the midst of a financial, commercial, political, social and cultural collapse. In this final installment I’ll give my best estimate as to what happens next and it has a 100% probability of being wrong. There are so many variables involved that it is impossible to predict the exact path to our world’s end. Many people don’t want to hear about...

Washington state legislator Rep. Matt Shea (R) says preparation is crucial to get ready for what he calls "the inevitable collapse" of the US economy. The Self-Reliance Rally event at an Idaho State Park had several speakers encouraging attendees to prepare by gathering arms and ammunition and considering forming militias. "When it happens, we need to look at this as a opportunity, not a crisis," Shea said. "Who's job is liberty? That's our job." Shea told the crowd to stock up on ammunition, stay in shape, practice shooting, learn self defense and special tactics. He related a story from when...

The U.S. unemployment rate dropped 0.2 percentage point to 7.4% in July and a broader measure of unemployment fell to 14% from 14.3%, but there was good news and bad news behind the declines. The drop in the main unemployment rate was driven by both positive and negative factors. Most of the drop was due to more people finding work. Some 227,000 more people said they were employed in July compared with June. But at the same time the overall labor force dropped by 37,000, a possible sign of discouraged long-term jobless dropping out. [] While the number of people...

Most astute observers and analysts understand that the world is on the brink of a widespread economic collapse. Our debt, the expansion of the U.S. police state, the militarization of governments, and geo-political posturing are all pointing to an end to life as we have come to know it in the modern world. We know it’s coming. The question is when? What signs should we be looking for? What will be the catalyst? The following micro documentary from Storm Clouds Gathering examines the complexity of the variables involved, the intentions of those making the decisions, and the various possibilities –...

Bix Weir is a tireless advocate for manipulation-free gold and silver markets. Weir says, “They are printing money, and the reason to control the price of gold is to control the perception the U.S. dollar is a sound currency.” The manipulation game is not going to go on much longer. Weir proclaims, “We’re at a point in our system and in the manipulation where people within the Fed and within our government are ready to pull the plug on the game and basically crash the system.” Weir goes on to say, “You’re looking at a complete wipeout of all debt...

Something peculiar has been going on the treasury market during the latest round of quantitative easing (QE). If we study the chart provided below we find that treasury rates increased as soon as a QE-program was enacted, and fell immediately after its termination. Take the TSY 10 year for example; as soon as QE1 was implemented rates rose rapidly from a low of 2.08 per cent to a high of 4.01 per cent. What is striking about this is the fact that the low was set three days into the program, while the high was set three days after the...

Economic blogger and author, Charles Hugh Smith, joins Rick for an in-depth discussion on cycles and why he foresees a banking crisis in 2015. Other cycles covered are cycles of war, and climate.

For over a month, JPMorgan managed to mysteriously avoid matching up the gold held in its (world's largest) vault with the Comex delivery notice update. However, as of today, that particular can will be kicked no more. Starting yesterday, JPM reported that just under 12,000 ounces of Eligible gold (the same Registered gold that two days earlier saw its warrants detached and convert to eligible) were withdrawn from its warehouse 100 feet below CMP 1. But it was today's move that was the kicker, as a whopping 90,311 ounces of eligible gold were withdrawn, accounting for a massive 66% of...

As the FED turns up the heat in the central bank frying pan, the frogs (public) don't realize they are being cooked to death by inflation. I am quite amazed how loud the sizzling sound has become, but for some odd reason hardly anyone notices it. Unfortunately, we are well past the point of no return. It's only a matter of time now before the whole "Financial Cliff" falls off the mountain side. Until then, gold and silver investors will have to put up with some of the worst analysis ever to come out of government and MSM. You see...

Greece and, for that matter, the rest of Europe are showing cracks again this morning. The Dollar is screaming higher (how's that "dollar collapse" thesis working out?) Gold is around $1,200; up fractionally on the day, but in general not in good shape -- and making a mockery of the "Gold to $5,000" callers. Interest rates are again going up, while The Fed is trying to claim that they really didn't say that they were going to taper. But that's a lie, because they have to stop the QE. This isn't about wanting to exit, it's about being forced to...

Though most Americans go through their day thinking everything is now returning to normal, the fact of the matter is the situation is anything but stable. With crime rates skyrocketing, home prices dropping to under $500 for a house, and the local government out of solutions, the city of Detroit is the latest to join the likes of Stockton, California, having just defaulted on its loans from creditors. Despite promises to the contrary, it should come as no surprise that the city is unable to meet its obligations. And it won’t be the last. City and state governments all over...

Yes, At Some Point China Will Implode Henry BlodgetJune 17,2013 If there has been one prediction made more than any other over the past couple of decades, it's that China's miraculous economy is headed for a fall. China bears have pointed to a long list of disasters-in-the-making, from questionable economic statistics to skyrocketing real-estate prices to ghost cities to centrally planned growth to corruption to pollution to civil unrest to debt. And yet, despite all of these concerns, China's economic machine has just kept chugging along. But this time it's going to be different!, says an analyst from Fitch. This...

The Fed over here has ordered – and I want everybody to listen because this is insider information – the Fed has ordered the U.S. pension funds to begin to acquire U.S. debt. That is coming down the pike, it’s going to start happening, the states are going to start carrying it in order to fatten up their books… So, we are moving into the last stages before an all out collapse. That’s exactly where we’re headed. Now the Rubicon has been crossed… the armies are surrounding the Capital itself.

PHILADELPHIA (CBS) — Sources tell CBS 3 that blood tests on the crane operator involved with Wednesday’s deadly building collapse in Center City detected the presence of a prescription painkiller and marijuana. The blood, along with urine, was taken from 42-year-old Sean Benschop at the hospital approximately two hours after the collapse at 22nd and Market Streets, which killed six people and injured 13. (See Related Story) Sources say investigators also noticed that Benschop, who has a history of 11 prior arrests, including a conviction for possession and dealing drugs, was speaking in what police considered an unusually slow, quiet...

Everyone’s favorite billionaire investor is back in the spotlight, and this time he has a few people wondering what he’s up to. George Soros has dumped his position with several major banks including JPMorgan Chase, Capitol One, SunTrust, and Morgan Stanley. He has reduced his exposure to Citigroup and decreased his stake in AIG by two-thirds. In fact, Soros’ financial stock holdings are down by roughly 80 percent, a massive drop from his position just three months ago, according to SNL Financial. So what’s the deal? What does he know that we don’t? There could be a simple and non-nefarious...

Will It Be Inflation Or Deflation? The Answer May Surprise You By Michael Snyder May 22nd, 2013 Inflation Or DeflationIs the coming financial collapse going to be inflationary or deflationary? Are we headed for rampant inflation or crippling deflation? This is a subject that is hotly debated by economists all over the country. Some insist that the wild money printing that the Federal Reserve is doing combined with out of control government spending will eventually result in hyperinflation. Others point to all of the deflationary factors in our economy and argue that we will experience tremendous deflation when the bubble...

#1 27 Percent Unemployment/60 Percent Youth Unemployment In Greece #2 Detroit, Michigan Is Insolvent And Is Rapidly Running Out Of Cash #3 Economic Despair In France #4 7,000 Abandoned Buildings In Dayton, Ohio #5 Overwhelmed By Squatters In Spain #6 The Collapse Of Chinese Power Consumption #7 Horrible Economic Data Coming Out Of The Second Largest Economy On The Planet #8 One Out Of Every Five U.S. Households On Food Stamps #9 Child Hunger In America #10 The Tremendous Suffering Of Hundreds Of Millions Of Desperately Poor People That We Never Hear About