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Archive → December 15th, 2015

Obama Getting His Terrorist Homeboys New Jobs

At least Obama is getting somebody new, real jobs. Such is the case for another former GITMO bad guy.

America’s armed forces shed blood to put Ibrahim Qosi in America’s prison for the baddest of the bad guys, and Barack “Love Me Some Muslim Terrorists” Obama gleefully released them.

As reported in Long War Journal,

Al Qaeda in the Arabian Peninsula (AQAP) released a new video featuring a former Guantanamo detainee, Ibrahim Qosi, who is also known as Sheikh Khubayb al Sudani.

In July 2010, Qosi plead guilty to charges of conspiracy and material support for terrorism before a military commission. His plea was part of a deal in which he agreed to cooperate with prosecutors during his remaining time in US custody. Qosi was transferred to his home country of Sudan two years later, in July 2012.

Qosi joined AQAP in 2014 and became one of its leaders. Qosi and other AQAP commanders discussed their time waging jihad at length in the video, entitled “Guardians of Sharia.”

Obama’s little “catch and release” would be fine if we were talking fishing. However we are talking about national security, something the President of the Caliphate could not care less about for Americans.

Islamic scholars ensure the “correctness” of the “jihadist project,” according to Qosi. And the war against America continues through “individual jihad,” which al Qaeda encourages from abroad.

So in other words, the recent Muslim terror attack in San Bernadino is what the jihadist project calls for. In the aforementioned video that validates Qosi’s new gig, AQAP’s celebrates jihadists who have acted in accordance with this call to jihad, like the Kouachi brothers who attacked Charlie Hebdo’s offices in Paris earlier this year, and in fact the Kouachi brothers’ operation was sponsored by AQAP.

You can thank Obama for creating yet another new job. For now it’s an offshore job; but soon the results will again show up on American shores.

 

Source: Will County News

Liberals are wrong about immigrant workers / Social welfare benefits paid by American workers

woman counting moneyProponents of lax U.S. immigration policies often laud immigrants as hard workers coming to the U.S. to do jobs that American citizens are simply unwilling to take. But a new online study shows that those immigrants are also more willing to sign up for social welfare benefits than many Americans.

According to the survey conducted by Neilson, 53 percent of immigrants in the U.S. report having signed up for some form of welfare since arriving in the country. That includes 40 percent of members of foreign-born households who are on food stamps and 42 percent who are using Medicaid.

By comparison, 48 percent of native-born Americans use social welfare benefits. That includes 22 percent who are on food stamps and 23 percent on Medicaid.

The results are in line with a similar analysis we told you about in September:

The conservative-leaning Center for Immigration Studies says in a recent “analysis of Medicaid, cash, food and housing programs” that more than 60 percent of U.S. households headed by illegal immigrants are reliant on government assistance.

According to the report examining welfare benefits in 2012, 62 percent of illegal immigrant households received some sort of government benefits. The most prevalent handouts to the group came through food assistance programs and Medicaid care for their U.S.-born children.

“Households headed by immigrants illegally in the country have higher use rates than native households overall and for food programs (57 percent vs. 22 percent) and Medicaid (51 percent vs. 23 percent),” states the report. “Use of cash programs by illegal immigrants is lower than use by natives (5 percent vs. 10 percent), as is use of housing programs (4 percent vs. 6 percent).”

And despite what immigration proponents on the left would have you believe, allowing destitute immigrants into the country and placing them on the social welfare doles doesn’t exactly help the pull themselves into the middle class.

According to the Nielson numbers, 48 percent of immigrant families who opted into social welfare programs were just as likely to continue to meet need requirements for the programs after two decades in the country.

Source: Will County News

What NYC Taxicabs Can Tell Us About the Future of the Gold and Silver Markets

What NYC Taxicabs Can Tell Us About the Future of the Gold and Silver Markets

  BY    

This article was submitted by Addison Quale, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.

A fascinating situation is unfolding in New York City, highlighting the clash between government-enforced monopolies and the free market. More importantly, it also foreshadows what will eventually happen to the gold and silver market as the US dollar and other currencies collapse.

As you may know, Uber has made tremendous inroads into the taxi market in NYC. With its greater convenience, low prices, and employee-friendly work conditions, its success threatens to drive the city-regulated yellow cabs out of business.

15 11 20 uber vs taxi


Jeffrey Tucker highlights the tremendous impact Uber has had on the New York taxi business in a piece he wrote for The Freeman:

In less than one year, we’ve seen the astonishing effects. Not only has the price of taxi medallions fallen dramatically from a peak of $1 million, it’s not even clear that there is a market remaining at all for these permits. There hasn’t been a single medallion sale in four months. They are on the verge of becoming scrap metal or collector’s items destined for eBay.”

A New York City yellow cab medallion confers the right to own and operate a taxi in the five boroughs. As Tucker points out, it was recently worth as much as $1 million. That was before the rise of Uber. Now its value is estimated at around $400,000. That represents more than a 50% decrease in cost.

But even at that discount price, there hasn’t been a medallion purchase in four months. There is literally no market for taxicab medallions right now.

That raises an important question: why has the market completely locked up?

Obviously, if you recently purchased a medallion for $1 million, you are pretty upset right now. You want to recoup as much of that investment as you can. Ideally, you want to sell it for at least $1 million so you can recover your cost. Of course, you’d probably be willing to take a loss to get out from under it. Maybe you’d accept somewhere in the neighborhood of $800,000.

But thanks to Uber, the market dictates your medallion is only worth about $400,000. Considering the current trends and the growth of Uber’s business, that figure might even be generous. From a buyer’s perspective, why would you even pay that much? Part of the value of a taxi medallion is based on the assumption the government-run monopoly can continue to ward off potential competitors.

It clearly can’t. Perhaps NYC taxi medallions are on their way to becoming completely worthless.

Long story short, anybody wanting to buy a medallion at this point will only pay a fraction of $1 million. But taxi medallion owners are unwilling to take that kind of hit on their investment. As a result, no deals are being made.

This demonstrates perfectly what happens when an asset’s bid is withdrawn. In other words, when it goes “no bid.”

Keith Weiner illustrates this phenomenon by creating a scenario in which a massive earthquake is predicted to decimate Los Angeles:

Suppose there is stress in the market, a crisis impending or active. The bid recedes, and can even withdraw entirely. For example, what if the US Geological Survey were to say that there will be an earthquake in Los Angeles, 15 on the Richter scale, and nothing taller than a dollhouse will be left standing? You would not find any lack of offers to sell real estate. But what is the price of a house in LA? There wouldn’t be a bid in LA, and maybe not as far south as Chile, as far north as British Columbia, and as far east as the Mississippi River. The bid would come back into the market when the threat was over (perhaps at a much lower level).”

Weiner describes a situation in which the housing market in LA has gone “no bid.” Buyers aren’t willing to pay the prices sellers are asking because all of the houses are likely to be destroyed. In fact, nobody is really willing to pay anything. There aren’t any buyers. The market has disappeared.

How does this relate to gold?

In the monetary world, the US dollar depends on a government-enforced monopoly to support its value, the same way taxicab drivers in New York depend on the city government to enforce taxicab medallions.

So what happens over time as the US government sinks deeper into debt and eventually loses its ability to pay its bills? What happens over time as the government resorts to more and more to ZIRP, NIRP and quantitative easingjust to keep the line moving? What happens as more and more people opt out of the Federal Reserve’s monetary Ponzi scheme and begin to hold their assets outside the banking system? What happens when hyperinflation hits and prices for day-to-day goods skyrocket causing people to lose trust in the value of the currency? What happens when shops start to demand payment in gold and silver instead of dollars?

At some point, owners of gold and silver will refuse to trade their metal for any amount of US dollars. You could roll a wheelbarrow full of currency to a gold owner and plead with him to take $10,000 in exchange for his 1-ounce Gold Eagle. He will refuse. He’ll say, “With the dollar falling in value this fast and the government’s monopoly on money broken, I think $100,000 is appropriate.” You’ll balk because not so long ago, gold was trading at $1,100. You can’t stomach the loss.

At that point, the US dollar will have gone “no bid,” because everybody wants to hold hard assets.

Totally far-fetched and unrealistic you say?

Not at all.

This scenario has played out for every fiat currency that has ever existed. Time and again, people eventually wake up to the fraud foisted upon them by governments and central bankers, and the free market finds a way. Just like the free market is breaking the back of the New York City government-enforced taxi monopoly via Uber, it will eventually find a way to break the back of the US dollar.

When this come to pass, people will be free to widely use the only true and honest money in existence: gold and silver.

Source: Will County News

ISIS Has Passport-Printing Machine, May Have Already Infiltrated U.S.

ISIS Has Passport-Printing Machine, May Have Already Infiltrated U.S. (REPORT)

ISIS is thought to have obtained a passport printing machine and boxes of authentic blank passports when it took over the Syrian cities of Raqqa and Deir ez-Zour, which were home to passport offices.
By Taylor Tyler | Dec 11, 2015 01:19 PM EST
Passport

Passport
“The intelligence community is concerned that they [IS] have the ability, the capability to manufacture fraudulent passports, which is a concern in any setting,” FBI Director James Comey said. (Photo : Twitter Photo Section)
The Islamic State group is in possession of at least one passport-printing machine and “boxes of blank passports,” according to a U.S. intelligence report which warns that the terror group might have already infiltrated American borders using the authentic-looking passports, reported ABC News.
The 17-page Homeland Security Investigations Intelligence Report, issued to law enforcement last week, says the Islamic State group (ISIS) likely obtained the blank passports and specialized mobile printing machine when it took over the eastern Syrian city of Deir ez-Zour last summer, which was home to a passport office. The Islamic State group’s de facto capital of Raqqa had another passport office.

“Since more than 17 months [have] passed since Raqqa and Deir ez-Zour fell to ISIS, it is possible that individuals from Syria with passports ‘issued’ in these ISIS controlled cities or who had passport blanks, may have traveled to the U.S.,” the report says, rating the primary source of the information at “moderate confidence,” which is the second-highest given for source assessments, according to ABC News.

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The information was first made public on Wednesday by FBI Director James Comey while he testified before the Senate Judiciary Committee.

“The intelligence community is concerned that they [IS] have the ability, the capability to manufacture fraudulent passports, which is a concern in any setting,” Comey told the legislators, according to The International Business Times.

Comey added that the bureau “doesn’t have reason to believe” that ISIS has already established terrorist cells inside the U.S. “They are trying to do two things: They are trying to motivate people already in the United States to become killers on their behalf. They would very much like to as they aspire to be the leader in the global jihad, send people here to conduct attacks. It’s that second piece that we have not seen yet,” Comey said, according to the National Enquirer.

John Cohen, a former Department of Homeland Security intelligence official, told ABC News that “if ISIS has been able to acquire legitimate passports or machines that create legitimate passports, this would represent a major security risk in the United States.”

The issue of fake Syrian passports has been under the spotlight since shortly after the Nov. 13 Paris terrorist attacks, when European authorities discovered that two of the suicide bombers, thought to be ISIS members, had disguised themselves as Syrian refugees fleeing the civil war and entered Europe with fake passports.

U.S. lawmakers are concerned that President Obama’s Syrian refugee resettlement plan, which will bring 10,000 Syrians to America over the next year, could be exploited by the Islamic State group in a similar fashion.

Source: Will County News