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Edited by Alfred Adask
Friday, February 13th, A.D. 2015
Between Friday, February 6th A.D. 2015 and 
Friday, February 13th A.D. 2015, the bid prices for:


Gold fell 0.4 % from $1,233.30 to $1,227.90

Silver rose 3.8 % from $16.69 to $17.32

Platinum fell 1.2 % from $1,220 to $1,205

Palladium rose 0.8 % from $782 to $788

DJIA rose 1.1 % from 17,824.29 to 18,019.35

NASDAQ rose 3.1 % from 4,744.40 to 4,893.84

NYSE rose 1.8 % from 10,847.50 to 11,042.70

US Dollar Index fell 0.5 % from 94.65 to 94.18

Crude Oil rose 0.6 % from $52.34 to $52.67


"Only buy something that you'd be perfectly happy to hold
if the market shut down for 10 years." --Warren Buffett 

"If the markets shut down for 10 years, what investment would you dare to hold-- 
other than gold"? --Alfred Adask

Fiat currency conjecture


by Alfred Adask



Philipp Bagus ("PB"), author of The Tragedy of the Euro, was interviewed by the Mises Institute ("MI") about recent developments in Switzerland and the European Monetary Union.  Excerpts from that interview follow.


I ("AA") understand most of what Mr. Bagus said in that interview, but there are parts that seem almost incomprehensible to me.  Because Mr. Bagus' meanings are not always clear to me, some (maybe all) of my comments should be taken with salt.


Still, my "discussion" with Mr. Bagus might offer grounds for several items of interesting and vaguely-related conjecture:


"MI: Why do you describe the euro as a sinking ship?


"PB: The euro is badly designed. . . ."


AA:  I doubt that it's possible to have a "well designed" fiat currency.  I doubt that any fiat currency could ever be designed to overcome the fatal flaw that seems inherent in all fiat currencies:  the presumption that, unlike individuals and even major corporations, governments will always be able to repay their debts simply by raising taxes on their people.  Therefore, thanks to fiat currencies, governments are entitled to borrow--and grow--almost without limit. Eventually, the government grows larger than the private sector can support, and causes a national recession, depression or even collapse.


PB:  "In the EU, there is one central banking system that can be used by a wide variety of governments to finance themselves.  This is the tragedy of the euro: governments can finance their deficits indirectly through the central bank as their debts are pledged as collateral for loans to the banking system.  Or they can be directly purchased by the central bank."


AA:  In a rational world, assets (actual, tangible payments) can be "pledged as collateral" but debts (intangible promises to pay) cannot. 


In our brave new world of fiat currencies, not only government debts, but virtually all debts (promises to pay) can be treated as collateral (assets, actual payments).


It's not entirely irrational to treat all debts as if they were legitimate "assets".  Still, debts (mere promises to pay) are not "assets" in the sense of actual payments.  Debts are, at best, a lower class of "expected" assets whose value is always in doubt because the "promises to pay" may not be kept if the debtor dies, becomes bankrupt, or absconds and refuses to pay.  The debt can even be destroyed by a currency collapse, national bankruptcy or war.


Those who treat debts as assets are counting their chickens before they're paid.


*  If it's not completely crazy to treat debts as assets, there are limits


It's not unreasonable to treat some debt as a asset, so long as the debtor is actually capable of keeping his promise to repay.  But once you reach a point where the debt exceeds the debtor's capacity to repay, you've entered an economic "twilight zone" that's irrational and often even incomprehensible. 


Sooner or later, reason and reality must prevail.  Sooner or later, the debtors must admit that they can't pay.  When that happens, institutions and individuals who relied on the debtors' irrational promises to pay will be bankrupted. 


Institutions based on irrational promises include:  1) debt-based monetary systems; 2) fiat currencies; 3) savings stored in the form or paper or digital currencies and debt-instruments; and 4) economies based on debt-based, fiat currencies.  When the collective promises to repay exceed the institutions' capacity to do so, the institutions must suffer a "correction" ("haircut") wherein masses of debt will be repudiated.  These repudiations can be felt as an economic decline, recession, depression or even collapse.


PB:  "The effect of this policy [allowing government to finance themselves] is to externalize the costs of this monetization of the deficits on all users of the euro . . . . There is therefore an incentive in the euro countries to make deficits and accumulate debt, while externalizing costs on foreigners."


AA:  Mr. Bagus' statement implies that western governments believe they can grow wealthy by "making deficits" and "accumulating debt".  For them, debt is wealth.  Are governments merely mad to believe such monetary insanity?  Are they criminals bent on profiting from fiat currency at public expense?  Or, is their real intent to pretend to believe such nonsense in order to better control the public?


If more government debt created more wealth and more prosperity, then it should follow that we could all become fabulously wealthy if we quit our private sector jobs, stopped producing things like food, homes and cars-and just went to work for the government producing nothing.  Then government could grow, go deeper into debt and all of us non-productive government employees could live like kings, feasting on food we didn't grow, living in palaces that we didn't build, and riding around in Cadillacs that we didn't build or pay for.


It's nuts.


The idea that we could prosper in a debt-based monetary system reminds me of the "big lie"-a propaganda technique advocated by the Nazis.  Hitler intentionally told lies so "colossal" that no one would believe that someone else "could have the impudence to distort the truth so infamously." 


In other words, if you tell a lie that's big enough, often enough, the people won't dare to doubt it and will come to believe.


That propaganda technique may work for a while, but it's ultimately nuts.1


That technique has certainly worked on Americans who don't understand the concepts of fiat currency and debt-based monetary systems.  Americans have been so conditioned to think of Federal Reserve Notes (debt-based, fiat "dollars") as "money," that it's almost impossible for 99.9% of Americans to even imagine that those green pieces of paper in their wallets are only "currency" and evidence of debt rather than wealth. 


Instead, Americans believe that our government officials understand such things, and if the government supports the "big lie" that debt-based, fiat dollar is "money," then it must be true (surely, government wouldn't lie about such things, right?).  


If you try to explain to most Americans that the debt-based, fiat dollar is a "big lie" and an irrational concept that's deceived the entire world, they'll look at you as if you are the crazy one. 


So long as people have sufficient confidence in the "big lie" of fiat dollars, the currency system will seem to work.  But when the truth finally emerges (as it must), the lie of debt-based, fiat currencies will spiral down the toilet like a rocket-propelled . . . umm, . . . something.


*  "MI:  Could [the fiat monetary system] lead to the downfall of the euro?


"PB: It has already led to an enormous debt for most countries.  Add to that the expansionary monetary policy of the European Central Bank, which is always coming up with new tricks that put more money in circulation, such as their recently-announced quantitative easing."


"Expansionary monetary policy," putting "more money in circulation," and "quantitative easing" all mean the same thing:  inflating the currency. By printing more euros, the ECB tries to cause inflation which allows debtors (primarily the governments of the EU) to repay their "enormous debts" with inflated and "cheaper" euros.  In the EU's "expansionary monetary policy" we see evidence that the ECB is determined to cause inflation-or, conversely, to prevent deflation.  


We're left to wonder if governments fail to cause inflation, and deflation become predominant, will that deflation (which causes debtors to repay debts with "more expensive" euros), drive so many EU governments into illiquidity, insolvency and bankruptcy that the EU disintegrates?


One big question is whether inflation is merely advantageous to the function of any debt-based, fiat currencies (like the euro and dollar)or is an absolute requirement?  Without inflation must all debt-based, fiat currencies fail?


*  Did the Federal Reserve, and later, the ECB create a "business model" for "selling" their fiat currencies to the world?  Did those business models presume that economic growth would continue and their fiat currencies could function properly so long as there was 2% inflation in their domestic or global economies?  Does the "business model" for fiat currencies fail if inflation falls below 2% or, worse, turns into deflation?


I certainly don't know if central banks have a "business model" for implementing fiat currencies-but it seems logical to suppose they do. 


Let's suppose those business models were based on the presumption that inflation would always to run about 2% per year.  If that presumption failed and the world slipped into deflation, then the fiat-currency business model would fail, sovereign governments would default on their debts, their paper wealth would disappear, and their fiat currencies would become as worthless as Zimbabwean dollars.


If there's a "business model" for selling fiat currencies to the world, I'll bet that model will only work within a fairly narrow range of economic conditions.  Too much inflation might collapse the model; too much deflation will collapse the model. 


Let's suppose that the range within which the fiat-currency business models can function is as narrow as I suspect.  If so, the viability of those business models and fiat currencies will depend on the governments and central bankers of the world to exert sufficient control to keep national and global economies within operating range for their fiat currencies.  That control would inevitably translate into lost freedoms and lost prosperity for ordinary people.  Ultimately, in order to defy economic reality and thereby sustain their fiat currencies, governments and central banks would be forced to advocate and impose some sort of national and/or global "police state(s)".


Get that? This speculation implies that fascism and the modern police state might be precipitated by a financial breakdown of the "business models" for a nation's fiat-currency.  If so, an early sign of the collapse of a nation's fiat currency could be the rise of an increasingly tyrannical government and a domestic police state.


*  In the final analysis, all fiat currencies are irrational because they treat debt as wealth and a promise to pay as a payment.  That lie is bigger than anything Hitler ever imagined.


Nevertheless, it's "officially" presumed that the deeper you go into debt, the richer you become.  That presumption works for a while and may even seem brilliant to those who understand how to exploit fiat currencies.  But, inevitably, virtually all debt iss destined to shed the pretense of wealth and be suddenly seen as not only "debt," but unpayable debt.  At that point, the debt-based, fiat monetary system should collapse.


I can't yet prove it, but I'm increasingly convinced that deflation is deadly to debt-based, fiat currencies.


If that's true, and if we're entering a prolonged period of economic deflation, the world should be approaching the demise of all debt-based, fiat currencies.


Implication?  Hang onto your gold.  When the fiat fails, all that may remain is gold.


*  "MI: How long will the paper money system last?


"PB:  If I knew that I could be very rich. It depends greatly on the monetary policy.  And the financial and political elites will try to save the system because they benefit from it.  They could try to reset the system.  What is clear is that the debt held by so many states cannot grow much more.  It is unlikely that you can pay back this debt through growth.  Most countries are in a monetary trap.  When interest rates rise, the states are bankrupt because they cannot pay the interest."


AA:  Not exactly.


When interest rates rise during a period of inflation, those rising interest rates aren't necessarily fatal to the borrower or the economy. 


During periods of inflation, the currency loses value (purchasing power), and borrowers can repay their debts with "cheaper dollars".  That makes it easier to borrow and nominally repay your debts.


For example, if I borrowed $100,000 and the inflation rate was 10%, when I repaid the $100,000 it would only have $90,000 value/purchasing-power.  Thanks to inflation, I (the borrower) would profit by $10,000 on that loan.


Even if the government raised the interest rate to 5%, I would still profit by $5,000 on my $100,000 loan.


During a period of inflation, so long as interest rates don't exceed the inflation rate, the borrower can repay his debts with "cheaper dollars".  Rising interest rates aren't good for borrowers, but in the context of inflation, they're not necessarily ruinous.


However, during a period of deflation, the fiat currency gains value (purchasing power) and becomes "more expensive".  If I borrowed $100,000 during a period of 10% deflation, when I repayed the $100,000, it would have a purchasing power of $110,000.  Thanks to 10% deflation, the lender would gain $10,000 on the loan and I (the borrower) would lose $10,000 in purchasing power.  That loss would make it harder for me to repay my debt, would predispose me to default on the loan and might even push me into bankruptcy.


If the bank raised interest rates during a period of deflation by, say, 5%--that 5% would be added to the 10% deflation to make my loss 15% of the purchasing power of my original loss.  During a period of deflation, any increase in interest rates would increase the probability that borrowers would default on their loans and perhaps slip into bankruptcy.


Thus, Mr. Bagus' contention that "When interest rates rise, the states are bankrupt because they cannot pay the interest," isn't necessarily true during a period of inflation, but tends to be irrefutable during any period of deflation.


 Based on the antagonistic relationship between deflation and fiat currency, we can infer that whenever a central bank holds the interest rate near zero (as the Federal Reserve has done since the onset of the Great Recession), that's evidence that the bank fears that the economy is near, or already in, a period of deflation


More, if a bank offered negative interest rates on customers' deposits, those negative rates could be evidence that the bank believes the currency is already deflating and likely to continue doing so for some time into the future. 


Incidentally, the central bank of Denmark and the ECB have already begun to offer negative interest rates on their loans. 


*  Mr. Bagus observed that rising interest rates could prevent governments from repaying the interest on their debts.  His observation implies that even if a government is so broke that it can't currently repay, and will never be able to repay, the principal that it borrowed, the illusion of government solvency can still be sustained so long as the government is at least able to repay the interest on the debt. 


If so, a final sign of a government's collapse should be its failure to repay even the interest on its debt.


Japan, the US and EU have tried to hold interest rates down to nearly zero.  Their determination to do so may be because:


1) They believe we're in or near a period of deflation;


2) They're already so overly indebted and near insolvency that if interest rates rise, they won't even be able to repay the interest in their debts;


3) Once a government can't even repay the interest on its national debt, the underlying debts (government securities) will be repudiated, the value of paper-debt instruments like government bonds, pension funds, bank accounts, etc. will collapse; and,


4) Their national economies may do the same.


*  Fed Chairperson Janet Yellen has implied that the Fed will raise interest rates this coming summer (A.D. 2015).  Whether or not interest rates are raised significantly this summer will be a test to see if our government is, or is not, so insolvent it can't pay the interest on the national debt.


If the US government is so insolvent that it's already unable to repay much more than near-zero interest on its debts, then Janet Yellen won't raise interest rates next summer.  Oh, she might raise interest rates by 0.1% or some other miniscule amount as a symbolic gesture-but there'll be no significant rise in interest rates until the government becomes solvent (if it ever does) or deflation is replaced by inflation.


On the other hand, if the US government is still generally solvent, the Federal Reserve may raise interest rates by 0.5%, 1.0% perhaps even 2% before the end of this year.


But if interest rates remain near zero for the rest of A.D. 2015, that'll be good evidence that the US government is bankrupt and not only unable to repay the principle on its loans, but even unable to repay a reasonable rate of interest


That evidence would imply that government bonds are fundamentally worthless and perhaps precipitate an economic collapse.


*  I've seen estimates that attribute 40% of the US GDP to government. 


Is government (like some of our largest financial institutions) "too big to fail"?   If so, and if the government were bankrupt, who would be left to bail it out?


What would happen to the US economy if the government were officially, openly and undeniably bankrupt?


Does the Fed's near-zero interest rate policy imply that that's already the case? 


1 Maybe it's worse than "nuts". 

The current monetary system reminds me of Revelation 18:21 & 23 which describe the fall of Babylon: 


"And a mighty angel took up a stone like a great millstone, and cast it into the sea, saying, Thus with violence shall that great city Babylon be thrown down, and shall be found no more at all. . . .  for thy merchants were the great men of the earth; for by thy sorceries were all nations deceived."


Given the importance of "merchants," we can presumed that End-Time Babylon's "sorceries" are "commercial" in nature.  Could it be that Babylon's "sorceries" include whatever tricks and propaganda used to trick the people of the world into having faith in fiat currencies and debt-based monetary systems?  Haven't all the nations of the world been deceived into believing that debt is wealth, currency is money, and promises to pay are payments?


Could the End-Times destruction of "Babylon" correspond to the failure of the fiat-currency's "sorcery"?

Food Stamp Beneficiaries Exceed 46,000,000 for 39 Straight Months


( - The number of beneficiaries on the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps, has topped 46,000,000 for 39 straight months, according to data released by the Department of Agriculture (USDA).


In November 2014, the latest month reported, there were 46,271,508 Americans on food stamps. Food stamp recipients have exceeded 46 million since September 2011.


The 46,271,508 on food stamps in November was down from the 46,477,678 on food stamps in October - a decline of 206,170.


As of July, the national population was 318,857,056, the Census Bureau estimates. Thus, the 46,271,508 on food stamps equaled 14.5 percent of the population.


There were 22,699,759 households on food stamps in November, which also declined from the previous month of 22,774,201 in October.


As of September, according to the Census Bureau, there were 115,831,000 households in the country. Thus, the 22,699,759 households on food stamps in November equaled 19.6 percent of the nation's households.


The 46,271,508 people on food stamps in the United States also exceeded the total populations of Columbia (46,245,297), Kenya (46,245,297), Ukraine (44,291,413) and Argentina (43,024,374).


That's slightly fewer than the population of Spain (47,737,941).


Households on food stamps got an average benefit of $259.95 during the month, and total benefits for the month cost taxpayers $5,900,887,430.


In 1969, the average participation in the SNAP program stood at 2,878,000. In 2014, average participation grew to 46,536,000, an increase of 1516.96 percent. 


Washington Times

IRS Commissioner John Koskinen confirmed Tuesday that illegal immigrants granted amnesty from deportation under President Obama's new policies would be able to get extra refunds from the IRS for money they earned while working illegally, as long as they filed returns during those years.


Illegal immigrants who are granted the amnesty will be given official Social Security numbers, which means they can go back and amend up to three years of previous tax forms to claim the Earned Income Tax Credit, potentially claiming billions of dollars in additional payments they were ineligible for before the amnesty.


Mr. Koskinen said they will have to have already filed returns for those back-years, and there's a statute of limitations that governs how far they can go back, but said the agency's current interpretation of laws would allow them to claim the EITC credit retroactively.


"This is the problem you get into," said Sen. Charles E. Grassley, an Iowa Republican who demanded a solution to the loophole. "The IRS's interpretation of the EITC eligibility requirements undermines congressional policy for not rewarding those working illegally in the United States."


Russia and Egypt might soon exclude the US dollar and use their national currencies in the settlement of accounts in bilateral trade, Russian President Vladimir Putin said in an interview to Egyptian


The issue of abandoning the dollar in trade is "being actively discussed," Putin told Al-Ahram daily newspaper ahead of his two-day trip to Egypt. The Russian president was invited for a bilateral meeting by his Egyptian counterpart Abdul Fattah al-Sisi. "This measure will open up new prospects for trade and investment cooperation between our countries, reduce its dependence on the current trends in the world markets," Putin said. "I should note that we already use national currencies for trade with a number of the CIS [Commonwealth of Independent States] states, and China.


 This practice proves its worth; we are ready to adopt it in our relations with Egypt as well. This issue is being discussed in substance by relevant agencies of both countries."

"The volume of bilateral trade has increased significantly over the past years: In 2014, it increased by almost half compared to the previous year and amounted to more than $4.5


"Egypt is the major buyer of Russian wheat, Russia provides about 40 percent of grain consumed in the country; as for us, we import fruits and vegetables."Moscow imposed a full ban of EU, US, Australian, Canadian, and Norwegian food exports to Russia on August 7 for one year


Moscow and Cairo are also engaged in energy, automobile manufacturing and transport cooperation, developing the intergovernmental trade, economic and scientific-technical cooperation commission as well. During Sisi's last visit to Russia in August 2014, the two leaders agreed to look at a possibility of creating a free trade zone between Egypt and the countries of the Customs Union.



CHINA TRADE: Investors reacted to Chinese trade data released Sunday that showed imports fell nearly 20 percent over a year earlier. Exports were also weak, dropping 3.2 percent from a year earlier, heightening concerns about the world's second-largest economy.


Small US banks have been disproportionately hurt by post-financial crisis regulation, a former JPMorgan Chase executive working at Harvard University has found.


Although the market share of smaller US banks with less than $10bn in assets has been shrinking for some time, the research shows their decline has accelerated since the introduction of the Dodd-Frank financial reform bill.


Community banks lost 6 per cent in market share between 2006 and mid-2010, during the worst of the crisis. But, since the passage of Dodd-Frank in early 2010, the decline in market share has doubled to more than 12 per cent.


"What if Dodd-Frank created a too-small-to-succeed problem in addition to the too-big-to-fail problem?" said Mr Lux, who is based at the Mossavar-Rahmani Center for Business and Government at Harvard's John F. Kennedy School of Government.


These small banks are estimated to provide 70 per cent of US agricultural loans and 50 per cent of small business loans.


"It's hard to imagine that remote parts of the country are going to be served by these larger consolidated banks," said Mr Lux, who also works at the Boston Consulting Group. "If the trend continues, we're going to see fewer community banks and more substitutions that would not be under the same scrutiny."


Community banks' share of the US lending market has fallen from more than 40 per cent in 1991 to 22 per cent last year. At the same time, the market share of America's five biggest banks has jumped from 17 per cent to 41 per cent.


The Govt doesn't want all sorts of small and medium sized banks (and other businesses around. It makes control much tougher and gives people the idea that they can rise out of poverty, work, build and create rather than sit back and collect a check and "vote" like they are told. 



(Bloomberg) -- Central banks purchased enough gold in 2014 to buy 75 Boeing Co. Dreamliners.


Governments added 477.2 metric tons to their reserves, the second-biggest increase in 50 years and 17 percent more than a year earlier, the World Gold Council said in a report Thursday.


 Based on the average price of gold in 2014, central banks probably paid about $19.4 billion


Central banks have added to gold reserves for the past five years, a reversal from two decades of selling since the late 1980s. Purchases will be at least 400 tons this year, according to estimates from the London-based council, which represents 17 gold producers.


"There is a lot of scope for emerging market central banks to expand their holdings as these are still significantly underweight," Alistair Hewitt, head of market intelligence at the council, in a phone interview on Wednesday. "Demand from this sector is going to remain robust."


Russia was the biggest buyer of gold, while Ukraine sold the most as fighters from both countries clashed along Ukraine's eastern border.


Russia's Hoard

Russia's gold stockpile has grown to the biggest since at least 1993 after purchases topped 173 tons last year. The country has been buying the metal to diversify its foreign reserves and solve problems related to ruble liquidity, central bank Governor Elvira Nabiullina said in an interview with Bloomberg Television in Moscow this month.


Gold accounts for about 12 percent of its total foreign reserves. That's still less than the U.S. and Germany, the biggest holders, with the metal making up about 70 percent of reserves.


Ukraine sold almost 19 tons of gold, while Kazakhstan and Iraq both bought about 48 tons, according to the council. Azerbaijan purchased about 10 tons, the report showed.


The metal has climbed 3.3 percent this year.


Countries have bought 1,964 tons of gold over the past five years, equal to more than seven months of mine output, as they sought an alternative to currencies, according to the gold council report.



By Kellan Howell - The Washington Times - Thursday, February 12, 2015

China has become one of the world's largest two economies, and is wealthy enough to buy up at least $1.3 trillion of the U.S. debt. But that hasn't stopped Uncle Sam from continuing to send foreign aid to Beijing.


In 2014 the U.S. State Department and its USAID program provided nearly all of the $12.3 million in taxpayer-funded aid set aside for China. And another $6.8 million is on tap for Beijing this year, according to


In the big picture of things, China's aid package - mostly centered around pollution and pro-democracy programs - is a mere drip from a foreign aid spigot that has been as great as $50 billion annually in recent years. But taxpayer watchdogs say it's a classic example of the U.S. government not being able to reign in aid on projects whose effectiveness is immeasurable and could easily be funded by the country itself.


"The idea that China needs this foreign aid, and that it can make any difference in China, is laughable," said Ian Vasquez, director of the Center for Global Liberty and Prosperity at the Cato Institute, a libertarian think tank.


"In essence, what we're doing is borrowing from China and giving some of that money back to China, so it's a loan with interest. This is an expensive way to do business," Mr. Vasquez said.


A spokeswoman for USAID said this year's funding was being directed to programs in Tibet, an unrecognized state within the People's Republic of China that has continually sought independence from the country. USAID will contribute $4.5 million to the total requested $7 million.


Critics say that China has not proven itself to be a good economic partner for America, costing the U.S. billions annually in intellectual property theft and continually blocking U.S. exports to the country



The House voted Friday to make permanent  an expired tax break designed to help small businesses invest in equipment and property, defying a veto threat by the White House.


President Barack Obama objects to the bill because it would add $79 billion to the budget deficit over the next decade.


Now Al this is Unlike his amnesty and healthcares where it adds trillions to the budget deficit over the next decade.


On Thursday, the House passed a $14.3 billion package of tax breaks designed to encourage charitable giving. Also, the House Ways and Means Committee advanced several other bills that would benefit businesses and individuals.


The House passed the small business bill on Friday by a vote of 272-142. Thirty-three Democrats joined nearly every Republican in voting for the bill. However, the margin would not be enough to override a presidential veto.


The bill would allow small businesses to immediately write off capital expenses of up to $500,000, rather than taking the deductions over several years. Another provision would make it easier for small business owners to deduct charitable contributions. 


Postal service

Nearly half of the jobs at a sorting center in northwest Ohio will be eliminated as the Postal Service moves its local mail-sorting operation to Michigan, workers were told this week.


About 117 jobs at the sorting center at Toledo's main post office will be eliminated around mid-April,


The upcoming change means inbound mail to Toledo will be sorted 60 miles away in Detroit. (kinda makes you wonder what kind of deal was struck during the bankruptcy of Detroit.)


Delivery trucks will run the mail to Toledo's post office, where it will be transferred to other trucks for local delivery.


Congress is to blame for the cuts to Toledo's sorting center, said Arnie Cowell, president of the Toledo American Postal Workers' Union. The mail agency has reported heavy losses in recent years as a result of congressionally mandated annual payments for future retiree health benefits.


The Postal Service is required find jobs within a 50 mile radius for those workers whose positions were eliminated, but the agency hasn't done so yet."There are no jobs for these people to go to," he said.

 New! Hear Dr. Laurie Roth's speech at the TEA Party held in Spokane, Washington.  To listen, click HERE. To download, right click on the icon and select "Save," "Save As," or "Save target as" to save to your computer.

(Run time: 10 minute, 5 seconds; file size: 1.73 Mb)


Listen every Monday-Friday 7:00-10:00 PM PT on the IRN-USA Radio Network


Mind Control Experiments on the Mentally Ill - Vermont State Hospital and the CIA


When anyone mentions the 'CIA' you immediately think of 'ends justify the means' 'lies' deception' 'agents with double lives' 'serving their country through stealth.'   In all fairness, I am certain that there are many who operate out of real integrity and patriotism for our country but many more who will do whatever they are told, even if it amounts to torture, evil experiments and murder.

Many of you may recall the evil CIA funded and controlled mind control experiments during the 1970s - MKULTRA. Look it up and notice their subprojects, 8, 10, 63 and 66.  

Recently, I have interviewed and become acquainted with Karen Wetmore. She is a walking survival tail, working through mental illness from her own severe childhood abuse. Unforgivably, she has had to also work through years of abuse at the hands of her own Government. Karen found herself in a real horror movie after being put in the Vermont State Hospital after she tried to kill herself at age 13. From there Karen found that 'Alice in Wonderland' was actually real. Nothing was what it seemed and no one would ever listen to her or believe anything she said about what was happening. After all, she was 'mentally ill.' Right? WRONG.

This first round of horror lasted around 3 months. Karen recalls only part of it but says she never received counseling at all and was drugged and kept isolated all the time. She recalls being put in a straight jacket, being forced to urinate on the floor, stuck with needles and isolated all the time. There was no counseling or therapy.

Karen has finally been able to piece together the vacant parts of her memories through 'freedom of information act requests' for her medical records. To even get these she had to battle with authorities for years. No one wanted her to find out what really was happening to her and by whom.

Three months later, Karen says she was released but none of her mental health needs had been addressed or met. She was even in more pain and trying to just struggle through her teens. Her parents loved her but didn't know what to do.

Horror chapter 2 unfolded when Karen was 18 and fell apart when her boyfriend died. Again, suicidal and still struggling with her core problem that turned out to be 'dissociative identity disorder,' Karen was committed against her will into the Vermont State Hospital again. Shockingly, she was stuck here - no imprisoned there for 3 years and barely survived.

Only after Karen was finally released did she get real help and start to piece back her damaged and assaulted life. Therapist Kathleen A. Judge worked with Karen and found the real problem, which linked back to severe childhood abuse Karen had blocked out. Kathleen encouraged her to write her experiences down and tell her story.

Karen started researching, calling and demanding her medical records. She found that all her requests for her medical records were turned down again and again, which was totally denying her legal and Constitutional rights. Determined to piece this nightmare together and find out the truth, Karen finally hired an attorney to get the documents which she was told again and again were 'classified.'

What Karen said she finally pieced together was that she was part of CIA funded and controlled mind Control Experiments. She researched several of the Doctors who came to see her while she was stuck in the hospital. One Robert Hyde was cleared as 'Top Secret' as a contractor on CIA LSD experiments that were attached to MKULTRA subprojects 8,10, 63 and 66. Karen also found that between 1952 and 1973 that CIA money was pouring all over this hospital...why?

While in the hospital Karen says she was handcuffed with hands behind her back, put in a straight jacket in an isolated room for weeks and months at a time, given experimental and severe drugs (she only found out how deadly and severe when she got her fought for medical records and documentation). She was given no therapy, no bed and was forced to urinate and poop on the floor. She had even discovered that one of the Psychiatrists had sexually assaulted her.

I asked Karen what did she think they were trying to do her? She said that she had no doubt she was a research subject. The purpose of all this was just an extension of MKULTRA - mind control experiments. The CIA and their 'Frankenstein' Doctors were investigating how and when a person will break, when they will talk, at what point you can make a person do anything you want and when is too much, where they will just die.

Karen found that there were nearly 3000 deaths at the Vermont State Hospital from 1952 to 1973 with tons of CIA money pouring into the hospital. I asked her, how could there be so many deaths at a mental health hospital? This wasn't a regular hospital with a standard emergency room where casualties happen. This was a hospital where folks are dealing with mental and emotional problems, not physical in most cases.   Just that alone in my view should have been a major cause for investigation if not arrests.

I don't care who you are, the President, fancy CIA operative, teacher, janitor or movie star...Evil is still evil and the Vermont State Hospital was in bed with the snake and should be investigated and exposed.   Lives were ruined at this hospital and during this time 3000 and why?  

Karen Wetmore is now in her early 60s and continues to uncover things and try and expose the truth. She has tried to contact many politicians and authorities to start a real investigation and expose the truth. So far, no one will respond to her at all, including Senator John McCane.

Apparently, 3000 mysterious deaths from 1952-1973 at the Vermont State Hospital, hundreds of thousands of dollars funneled to the Hospital from the CIA, giving deadly and experimental drugs to mental health patients, putting them in strait jackets, giving them no bed and making them urinate on the floor is not worthy of investigation. Is this not news in part because the CIA was acting criminally or because these were expendable mental health patients? You tell me.

It is time for a complete and real investigation into the CIA during 1952-1973 and into the Vermont State Hospital during this time. There is real documentation in Karen Wetmore's book 'Surviving Evil and questions that must be answered.


The health megatrends


by Herbalist Wendy Wilson


The movers and the shakers guiding our civilization are creating unprecedented change driven by technology advancements, cost cutting measures and we're old all to help mankind and the environment. I was watching a Nova special on the Roman Coliseum and they discovered the remains of gladiators at another archeology site. The forensic bone specialists discovered injuries (some fatal) which the gladiators endured. Some were head wounds that had healed very well before they were killed later in battle. The gladiators had sponsors just like World Wide Wrestling or the football players in the NFL. And the sponsors of the gladiators paid the ancient physicians a lot of money to treat injured gladiators. The gladiators were also given a special ash drink to make their bones strong; similar to a calcium supplement. There have been changes in the medical area for thousands of years. However, nothing mankind has ever seen before will change the healthcare treatments and they are coming at record speed. Each of us will have to decide if medical science and technology are doing more harm than good.



If you think technology is getting too personal and is risking your privacy, your security and your sanity then hold on because you haven't seen nothing yet.  According to consulting experts in healthcare there are forces in play that are radically changing the way we perceive healthcare. According to Joel Sauer of MedAxiom Consulting, every area of medicine from doctors, patients and vendors will be impacted with this change. Everything you are used to experiencing in healthcare is going to vanish over the next few years; and I mean everything. An example they gave was; the number of patients a doctor will be allowed to see and how he/she diagnoses and treats the patient. How patients pay and how doctors are compensated will also change. Everything will be tracked and accounted for because it is healthcare driven by costs and only costs.



There will be no more individual tests. They are too expensive. The new paradigm will have nuclear studies bundled in the overall treatment of patients justified as disease prevention. If patients don't want radiation treatments they may have waive their rights to the rest of their treatment plan. The accounting strategy to measure value is "outcome over cost." An example is if a female patient is diagnosed with breast cancer, before she can qualify for reconstruction surgery after the mastectomy she would need to participate in two series of chemotherapy treatments and one series of radiation treatments. Dr. Rebecca Carely had said that the ACA would force participants to succumb to toxic drugs and treatments if they wanted to keep their medical insurance.



The experts in the healthcare industry are calling these changes "monstrous." However, the reimbursements to physicians are less and as usual the patient will be on the hook for the balance. This is what the ACA calls accountability in healthcare; patients pay higher premiums with higher deductibles and pay higher medical bills after insurance pays. Sauer admits this is all to move the healthcare industry away from a fee-for-service to a "global payment mechanism centered around populations and bundled treatments." The benefit everyone seems to be overlooking with the fee-for-service model is that with that model the doctor represents his client the patient. According to Dr. Michael Goodman, "The providers (the physicians) and consumers (the patients) of medical services have become merely the tools to provide profit for the managed care industry." The other goal of the new system is to reduce any readmissions to hospitals through reimbursement penalties. Doctors and hospitals can lose 1% to 2% of their earnings if you return to the hospital within thirty days of discharge. The penalty will cancel any bonus or raises to healthcare employees. Now, does that mean modern medicine will do a better job of fixing the patient? The reality is, doctors and the drugs can do just so much.  To recap, this radical accountability the government is forcing on healthcare is really cutting cost via a global payment environment. Most medical facilities are not prepared for this new economic model in healthcare.



Large medical offices or hospitals are run by accounts and business professionals. The boards of major hospitals will have a physician or two on the board but a majority of the share holders want returns and running a business is not part of a doctors' expertise. It is safe to say that doctors are not consulted on financial matters and the finances are dictating how a doctor can treat patients. This will mean 96% of the healthcare decisions are being taken out of the physician's hands.  This is a math problem because the treatments which doctors order for their patients drive the healthcare industry.



The ACA should not take the credit for any cost reductions thus far. Economists evaluating the first year have said that healthcare spending is still increasing but at a slower rate than previously. Some speculate that it may be due to some of the major drugs (Lipitor and Xanax) are now available in generic form. So, at most the cost reduction was compared to stepping down from a rocket to an F-10. Experts agree that a major roll of the ACA is to fundamentally reduce healthcare spending and it will do that with higher premiums, higher deductibles and more out-of-pocket to patients. It will also accomplish it by reducing what physicians are paid and can expect to earn. According to the Bureau of Economic Analysis, they expect that by 2019 the patients will pay more than 50% for their healthcare. Americans have not paid that much for medical treatment since WWII. This is intended to be a radical and drastic shift in how we see, interact, engage and spend on medical treatments. The ACA is designed to change patient behavior by making healthcare expenses out of reach for the average American.



Doctors will have nowhere to hide with the ACA bureaucracy. The technology required for doctors to comply strips any excuse of flawed paper trails. All transactions will be exchanged online. The compliance issues will only deepen as the ACA becomes engrained in the population. We're told that the changes are necessary to prohibit fraud and abuse of the healthcare system. There is an old saying that locks on doors are for honest folks. Super audits will be common place in healthcare trying to recoup payments. Any cracks in fraud protection will most likely to occur on the government side. According to Sauer, the government will continue to look for ways to take back healthcare payments it makes and if the government is going to use that strategy so will third party providers (insurance companies).



Another casualty of the ACA is the sole doctor practice. Right now 47% of all US physicians are employed by large medical practices (franchises). The research by Merritt Hawkins & Associates estimates that 75% of US physicians will work in hospitals by 2016. The doctors won't complain at first because they tend to be paid more in integrated medical facilities. The trend in healthcare is that they need to consolidate and become bigger to survive the demands of the ACA. There is an interesting trend that was reported by the American Medical Association and the American College of Cardiology, in which cardiologists are leaving the medical field more than any other type of physician. The trend is there are more cardiologists over 60-years- of-age and they are not being replaced fast enough. So unless this trend is reversed, it will become hard to find a qualified cardiologist in about ten years.




The ACA model of healthcare demands the use of technology to keep up with change. There is a rapid evolution of what is called BI software (business intelligence) to manage nearly every aspect of a patient's life. The software is designed to predict what diseases you most likely develop and treat you for it now. Everyone's lifestyle will be under the microscope.



Anyone who thinks the ACA will add jobs to the healthcare industry is mistaken. Hospitals in the US are adding robots to their staff - not humans. The University of California, San Francisco Hospital added a fleet of robots to also include El Camino Hospital. We're told the robots collect trash, linens, deliver meals and medications to patients and other tasks in order to free up staff for more important jobs. If you are into double-speak they call this "redirecting human labor to save costs." Dr. Kiosk is just steps away folks. If you are thinking the new healthcare exploits people and uses them as pawns to make more money - you are correct.



I prefer to rely on God's powerful herbs for health. A healthy lifestyle, regular exercise and medicinal herbs can go a long was as preventative healthcare. You can sidestep a lot of health issues practicing your own due diligence in taking care of your body - and that is the ultimate accountability. I live by the "cleanse and nourish principle," which is to remove toxins and put good nutrition it and the body is able to maintain a balance and heal itself. If you go to allopathic medicine and you buy into their disease management philosophy, this will never get at the cause of the problem and will merely reduce symptoms giving the illusion of health. That kind of treatment will always catch up with you and more often than not you will have more difficulty reversing the illness. Why? Allopathic treatments weaken the body. If you want to learn more how you can empower yourself and avoid the dependency of drugs for life, then call Apothecary Herbs about their Organ Cleansing and Immune Boosting herbs and empower yourself. Ask for their free product catalog by calling 866-229-3663, International 704-885-0277, where your healthcare options just became endless. Don't forget to take advantage of their Valentines Special and save 20% on orders of $70 or more with coupon VAL15 (Expires 2/16/15 at 12 midnight EST). Coupon cannot be used with other discounts or promotions.    


Source: where medicine is headed



Herbalist Wendy Wilson on Herb Talk Live

Saturday morning show:

7 am EST on GCN

2/14/15 Dr. Rebecca Carley

Weekday show:

7 pm EST on AVR

1/20/15 Dr. Rebecca Carley

1/29/15 If you missed- Miranda Esmonde-White creator of Classical Stretch - Aging in Reverse please see the archives on

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Go to Herb Talk Live & Radio Archive area for network link access and past shows to download and share. For Android users you can download a FREE app for Herb Talk Live on GCN. See the download link under radio archives at top of page at


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The information contained herein is not designed to diagnosis, treat, prevent or cure disease. Seek medical advice from a lincensed medical physician (if you dare) before using any product or therapy. 
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