Capitalist brotherhood – Kiva.org

“John Christopher, 44, a self-employed information technology consultant from Newton, learned about Kiva through an article in The Economist magazine. He has made loans to 14 businesses in six countries since joining Kiva in July 2006.

“I just like the idea that we’re all equal, no matter where you’re at,” he said. “This is a way to give them the benefits of the capitalistic system we have. And this will mean a long-term improvement to their lifestyle, because it improves their ability to earn a living.”

Though he declined to say how much he and his family have loaned, Christopher said it is much more than the average Kiva lender, which is about $86.

“I just feel that we’re more connected if we’re giving a large chunk of a person’s loan, and we’re more vested in their success as well,” he said. “But we’re not doing anything too crazy. We’ve said, this is how much we’re going to (loan), and when they repay it, we just turn it around and loan it to someone else.”

Christopher said he tries to get his family involved in choosing the businesses to support.

“I started looking at South and Central America because they’re close to us, and Africa, because I think it seems to have the biggest need,” he said. “I just try to find a variety of things, things that just look like a good business idea. The last loan I made, some guy in Africa was going to do a delivery business with a motorcycle. That made sense; it seemed like something a guy could make money at.”

Students from at least one Iowa school have become micro-lenders through Kiva as well. Catherine Mein, a social studies teacher at Ballard Junior-Senior High School in Huxley, learned about Kiva through an article in Smithsonian magazine.

“I actually just gave the magazine to the leader of (the student council service committee), and she got really excited about it,” Mein said. Made up of about 16 students, the student council decided to lend $25 each to three borrowers.

At first, the students printed out profiles of the potential borrowers to discuss them, Mein said. However, “they found that borrowers were being funded so quickly that they just went online and (viewed it using a projector) and everybody took a look at different people and decided that way.”

It’s likely the project will expand to the rest of the school as it’s offered to other teachers, she said. “It’s great; I like the idea of micro-lending, and it’s also introducing them to people in other countries and offering them some assistance.”

Each time a Kiva borrower makes a payment, the lenders with a stake in the business receive an e-mailed update with the percentage repaid. The lenders receive their principal back after the loan is fully repaid.

The interest charged by the participating “field partner” banks that actually extend the loans, which can be 15 to 20 percent or more, accrues to Kiva to keep the organization operating. The transfers are made through PayPal, which waives its fees on the transactions as its contribution to the organization.

Presently, the supply of loans is actually outpacing the demand from potential borrowers, said Fiona Ramsey, a Kiva spokeswoman. For that reason, Kiva has temporarily capped the amount any one lender can extend at one time to $25.

“People have wanted to do something like this for so long,” she said. “There’s such an excitement from the lenders, and (they really like) the idea that you can loan the money again and again. They get so excited about it that they tell people about it. It’s a real credit to the lenders; they’re the ones who are putting this forward.”

Last month, Kiva picked up 49,000 new lenders, including about 4,000 who signed up on Christmas Day, Ramsey said. Lending in January should get a bump from gift-certificate sales. “On Christmas Eve, we sold $259,000 in gift certificates; that must have been a lot of last-minute shoppers,” she said.

Messina, who said he has bought gift certificates for friends, also makes the optional 10 percent donation to Kiva each time he makes a loan. ”

Read more at KIVA.ORG – rated one of the best ideas of 2006.

What’s interesting is the way in which an organization like this refutes the idea of money as something which solidifies privilege. In fact, historically, you could argue that the free market has usually acted more as an equalizer.

(This will seem shocking to anyone who has been brought up on the socialist belief that the free market inevitably tends toward privilege. What they are confusing is a true free market and one in which monopolistic conditions and coercion prevail — usually because of an incestuous relationship between the state and business. Minus the state, I wonder whether that would still be the case)

It was the market which undermined social position, family, tradition and gender as determining factors of success in favor of whatever an individual could bring to the market – whether intelligence or aptitude or drive or talent or looks or emotional intelligence or charm or people skill.

Money converted these individual attributes into economic leverage in society…

Am-Bushing the Economy: The Republican Budget ’08

WASHINGTON – President Bush unveiled a $3.1 trillion budget proposal on Monday that supports a sizable increase in military spending to fight the war on terrorism and protects his signature tax cuts.

Bush called the document “a good, solid budget,” but Democrats, and even a top Republican, attacked the plan for using budgetary gimmicks to project a budget surplus in four years.

Comment:

Ah yes….fiscal responsibility, wasn’t it? The hall-mark of the conservative?

But in Bush-speak, more spending equals savings and a budget surplus down the road.

The day when Democrats sound fiscally saner than an incumbent Republican president is the day we know it’s not just the dollar that is on its death-bed.

Ron Paul or the Banks?

“A piece of legislation passed by Congress in 2006, the Pension Protection Act, became a bonanza for the mutual fund industry. The Investment Company Institute (ICI) and mutual fund giant Fidelity successfully lobbied for automatic enrollment with defined contribution retirement plans such as 401 (k) and 403 (b) plans. The act virtually guaranteed the mutual fund business additional trillions of dollars in assets and billions in fees….”

Not only do the bankers and the financial industry have their greedy paws deep in your pension, they’re working day and night to make themselves even more unaccountable than they already are:

“With the stench of Enron fading away, Wall Street and corporate America are looking for less regulation once again and looking to regulate Sarbanes-Oxley. Some committee members read like an “in crowd” of Wall Street and its suppliers – Kenneth Griffn, CEO of Citadel Investment Group, one of the larger hedge funds in America, made over $210 million in 2005. Samuel Piazza, Global CEO of Price Waterhouse Coopers; Robert Glauber, Harvard Law Sschool porfoessor and former chairman and CEO of the NASD; Cathy Kinney, President and COO of the NYSE; William Tarrett, CEO of Deloitte; Robert Pozen of Massachussetts Financial Services; James Rothenberg, Chairman Capital Research and Management; and Thomas Russo, Chief Legal Office of Lehman Brothers…”

Barry Dyke in “The Pirates of Manhattan,” PP. 26 and 61.

Who among the candidates is talking about the disease itself and not the symptoms? Only Ron Paul.

Here he calls for the government to “Bring back honest money”at Lew Rockwell.

“The advantages given banks and other financial institutions by our fiat monetary system, which is built on a foundation of legal tender laws, allow them to realize revenues that would not be available to these institutions in a free market. This represents legalized plunder of ordinary people. Legal tender laws thus enable the redistribution of wealth from those who produce it, mostly ordinary working people, to those who create and move around our irredeemable paper.”
Unending capacity to create money allied to lack of unaccountability to anyone – is that a definition of absolute power? And we know what comes of that:

“The issue which has swept down through the centuries and which will have to be fought sooner or later is the people versus the banks….all power corrupts, absolute power corrupts absolutely.”

Lord Acton, 1887.

Drinking from a poisoned well: Bernanke and Dumbledore…

“At some point, all the losses—both for borrowers and lenders—are going to be ‘socialised,’ i.e. foisted off on American taxpayers. We’re just not sure what the mechanism is going to be. For some reason it brings to mind a scene in the Harry Potter books where Dumbledore is forced to drink a well-full of poison in order to reach a treasured item at the bottom. The poison nearly kills him. But someone had to do it. Ben Bernanke’s beard is shorter than Dumbledore’s…but he sure could use some magic right now…”

More here

by Dan Denning, editor of Strategic Investments, and author of the idea-packed best-seller, The Bull Hunter, in the Daily Reckoning, Australia.

Financial Follies – going from Euro-phoria to Euro-phobia

“The ECB may or may not intervene in the currency markets to cap the euro. But this is a red herring. Europe’s retort – if and when it comes – will be far more political, and far more dramatic. We are at one of History’s “inflexion points”.

One recalls the months leading up to the collapse of the Gold Standard in 1931. That was triggered first by Credit Anstalt in Austria and then by a British naval mutiny in Scotland.

Any bets on what will trigger the collapse of Bretton Woods II? I wager that it will be a decision by the Gulf states to break their dollar pegs, leading to a temporary surge of euro purchases. That will tip Mr Sarkozy over the edge.”

Ambrose Evans Pritchard in the Telegraph discussing the possibility of currency controls in Europe.

Housing Bubble Trouble: Ohio judge places another straw on top of subprime camel…

“A US Federal Judge, C.A. Boyko in Federal District Court in Cleveland Ohio ruled to dismiss a claim by Deutsche Bank National Trust Company. DB’s US subsidiary was seeking to take possession of 14 homes from Cleveland residents living in them, in order to claim the assets.

Here comes the hair in the soup. The Judge asked DB to show documents proving legal title to the 14 homes. DB could not. All DB attorneys could show was a document showing only an “intent to convey the rights in the mortgages.” They could not produce the actual mortgage, the heart of Western property rights since the Magna Charta of not longer.

Again why could Deutsche Bank not show the 14 mortgages on the 14 homes? Because they live in the exotic new world of “global securitization”, where banks like DB or Citigroup buy tens of thousands of mortgages from small local lending banks, “bundle” them into Jumbo new securities which then are rated by Moody’s or Standard & Poors or Fitch, and sell them as bonds to pension funds or other banks or private investors who naively believed they were buying bonds rated AAA, the highest, and never realized that their “bundle” of say 1,000 different home mortgages, contained maybe 20% or 200 mortgages rated “sub-prime,” i.e. of dubious credit quality.

Indeed the profits being earned in the past seven years by the world’s largest financial players from Goldman Sachs to Morgan Stanley to HSBC, Chase, and yes, Deutsche Bank, were so staggering, few bothered to open the risk models used by the professionals who bundled the mortgages. Certainly not the Big Three rating companies who had a criminal conflict of interest in giving top debt ratings. That changed abruptly last August and since then the major banks have issued one after another report of disastrous “sub-prime” losses.

A new unexpected factor

The Ohio ruling that dismissed DB’s claim to foreclose and take back the 14 homes for non-payment, is far more than bad luck for the bank of Josef Ackermann. It is an earth-shaking precedent for all banks holding what they had thought were collateral in form of real estate property.

How this? Because of the complex structure of asset-backed securities and the widely dispersed ownership of mortgage securities (not actual mortgages but the securities based on same) no one is yet able to identify who precisely holds the physical mortgage document. Oops! A tiny legal detail our Wall Street Rocket Scientist derivatives experts ignored when they were bundling and issuing hundreds of billions of dollars worth of CMOs in the past six or seven years. As of January 2007 some $6.5 trillion of securitized mortgage debt was outstanding in the United States…….”

More by Bill Engdahl on the financial tsunami ahead.

Bigger dollar crash predicted in 2008 – updated

RHINEBECK, N.Y., Nov. 19 (UPI) — A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

“We are going to see economic times the likes of which no living person has seen,” Trends Research Institute Director Gerald Celente said, forecasting a “Panic of 2008.”

“The bigger they are, the harder they’ll fall,” he said in an interview with New York’s Hudson Valley Business Journal.

Celente — who forecast the subprime mortgage financial crisis and the dollar’s decline a year ago and gold’s current rise in May — told the newspaper the subprime mortgage meltdown was just the first “small, high-risk segment of the market” to collapse.

From UPI.

But from Kathy Lien, chief currency strategist at Daily Forex, some caution:

“Even though the US dollar fell to a new record low against the Euro overnight, the Euro failed to hold onto those gains. The currency pair’s struggle to sustain its upside momentum over the past three trading days has everyone wondering whether this is the top. Unlike the US, there are fundamental reasons behind today’s intraday reversal. For the most part European economic data was weak. Manufacturing PMI accelerated but service sector PMI deteriorated and French consumer spending fell by the biggest amount in over a year. ECB President Trichet also said that he is opposed to brutal currency moves while Airbus is complaining loudly about the damage of a weaker dollar. It is important to point out that Trichet did not call the latest move in the Euro brutal, but simply indicated his discontent with volatility in the currency markets in general. The pressure is heating up for the central bank president to do something about the currency but his reluctance to do so reflects what must be very strong inflationary pressures.”

And Sebastian Malloy at the Washington Post references that futuristic digital currency of Ben Steil’s I blogged a while back.

Update: Meanwhile, Goldman Sachs predicts the dollar will stage a come back in 2008. This is likely to be so for the short or midterm — but its likely to be go back down after that….the fundamentals argue for more decline…

Dollar devaluation? Whom does it hurt?

Interesting post here about dollar devaluation in a blog discussion.

Unlike Cavuto on FOX, the blogger thinks the dollar won’t bounce in the near term.

“I am not so sure about the overvaluation of the dollar.
I live in Denmark, and our valuta the DKR is pegged to the Euro.

I made a little survey for about 6 weeks comparing supermarket prices in Denmark and in the USA.
If you remove sales taxes and VAT, the real value of the dollar in a supermarket is about 56-60 eurocents. Today the exchange rate is about 68 eurocents to a dollar.

If you look at IKEA which is both in Europe and the USA and make the same comparation, IKEA values 1 dollar to 52 eurocents.

I think the dollar is going through a “controlled” gliding devaluation, and I think the goal is 1 dollar to 60 eurocents.

The FED and the ECB has a common interest in the project.

The FED can in that way get rid of a good deal of the American foreign debt, and the ECB can help the Euro to be a new international reserve valuta. At the same time, the EU has only a small part of the dollar reserves, so their losses will be relatively small.

The real losers will be the countries in the far east, that have invested heavily in dollars.

That’s why the ECB keeps up the rates, while the FED lowers their rates.

By the way, the USA is not the largest economy in the world.

In 2006 the US GDP was 13.000 billion USD, and the GDP in the EU15(the “old” EU) 11.400 billion €.
With todays exchange rate that is 16.764 billion USD, or about 29% larger than the US GDP. Maybe that’s the reason for the shift in reserve valuta.

With a foreign debt of 60% of GDP a large internal public and private debt and a negative private saving rate (-2% in 2006) the US economy is in a relatively bad shape, and on top of that is the sub-prime crisis.

So it is not likely, that the USD will revaluate in the short run.”

Ron Paul Revolution: WSJ’s sly hit piece on Paul….

The Mainstream Media are at it again – with this slyly worded mishmash of innuendo and obfuscation about Ron Paul. My comments are in caps and I also bolded important words in the piece:

“Paul’s Supporters Clash with Media”

Amy Schatz, Wall Street Journal, Nov. 24, 2007, A4

[LR: CLASH? AS IN VIOLENT ALTERCATION? AS IN “RP FANS ATTACK LONE JOURNALIST”? HOW ABOUT THIS– “MEDIA CLASHES WITH RON PAUL’S CAMPAIGN”? SOUNDS A LOT MORE LIKE THE TRUTH]

Early Halloween morning, “Taco John” posted a message-board call to arms: “Baltimore Sun Hit Piece…TAKE ACTION NOW!”

[LR: NOTICE THE REPETITION OF THE MEME OF VIOLENCE IN THE PHRASE “CALL-TO-ARMS” — AS THOUGH PAUL’S STORM TROOPERS ARE OUT ON THE STREETS IN STEEL HELMETS]

RON PAUL 2008

 

[balloons]

Ron Pauls’s official Web site: www.ronpaul2008.com

Forums: www.ronpaulforums.com

News: www.dailypaul.com

The paper’s political blog had an item marveling at how Republican presidential candidate Ron Paul had raised more money than “better-known Mike Huckabee, who is taken more seriously.

[LR: “BETTER KNOWN”? HUCKABEE WAS UNKNOWN A SHORT WHILE BACK. SO WHAT’S THE NEWS -WORTHINESS OF SUGGESTING THAT HE’S BETTER KNOWN NOW? EXCEPT TO MASSAGE PUBLIC OPINION IN THAT DIRECTION?]

[LR: AND THAT PHRASE, “TAKEN MORE SERIOUSLY” IS MANIPULATIVE TOO. TAKEN SERIOUSLY BY WHOM? BY THE KING-MAKERS IN THE PRESS PRESUMABLY? THESE ARE THE PEOPLE WHO BOUGHT INTO THE WAR MORE THAN ANYONE ELSE, WEREN’T THEY? WHAT MAKES THEIR OPINION INFALLIBLE?]

Taco John took to an Internet forum frequented by Paul supporters, providing a link to the offending item, as well as phone and email information for the newspaper’s public editor and advertising department. “They’re trying to pigeonhole us,” he wrote. “If we don’t fight back, they’ll keep doing it.”

Taco John, the online moniker of Isaac Lopez, a 32-year-old technology marketer in Vancouver, Wash., is one of many cyber-soldiers for Dr. Paul, the Texas congressman, gynecologist and vociferous opponent of the Iraq war.

[LR: NOTICE THAT PHRASE “CYBER SOLDIER” — CONTINUING THE IMAGERY OF VIOLENCE]

The Paul brigade [LR: MORE OF THE SAME] has largely drawn attention for its fund-raising prowess, raising a record $4.2 million online in a single day in November and leaving the 72-year-old politician with more cash on hand than several rivals and a $1 million TV ad budget for New Hampshire. But some Paul supporters are displaying an aggressive

[WHY NOT CITE A SPECIFIC EXAMPLE AND THEN CITE A FEW FROM OTHER CAMPAIGNS TOO? TASERING THAT 21 YEAR OLD STUDENT AT KERRY’S SPEECH WITH 50,000 VOLTS – NOW THAT SOUNDS LIKE AGGRESSIVE TO ME]

side that seems to spill beyond advocacy into harassment of those [LR: NAME THESE HARASSERS, PLEASE] who disagree or fail to show Dr. Paul sufficient respect.

Taco John, for example, posted contact information for a university professor who called Dr. Paul “unqualified to be president.” [LR:  LET’S SEE. ONE PAUL SUPPORTER POSTS SOMEONE’S CONTACT INFORMATION (ACCORDING TO YOU, OF COURSE) AND YOU’RE SHOCKED, SHOCKED. WHAT ABOUT ALL THE PRO-WAR GROUPS THAT ROUTINELY HARASS, SHUT DOWN, AND SLANDER ANYONE WHO EVEN CRITICIZES US POLICY IN THE MIDDLE EAST? NO WORRIES THERE?]

He also provided information on how to reach several reporters with whom he quibbled, as well as the Iowa Republican Party after it helped set rules for a debate — later canceled — that could have excluded the low-polling Dr. Paul.

[LR: LOW POLLING IN POLLS RUN BY WHOM? RELATIVE TO THE LEVEL OF MONEY HE HAS, PAUL BEATS THE MAJOR CANDIDATES HANDS DOWN IN SUPPORT]

Taco John — the handle comes from Mr. Lopez’s appreciation of former Denver Broncos quarterback John Elway and tacos — is a neophyte activist, who says he was inspired by Dr. Paul’s libertarian platform.

[Ron Paul]

Some blogs have booted Paul supporters for leaving incendiary comments.

[IF YOU WANT INCENDIARY COMMENTS, TRY ANY OF THE PRO-WAR STATIST BLOGS…WHERE YOU’LL FIND FOUL LANGUAGE, PERSONAL ATTACKS, AND REAL RACISTS. IF YOU CAN’T MENTION THEM, THEN DON’T PICK ON PAUL].

They have also been frozen out of Internet surveys and accused of electronic ballot stuffing;

[LR: “ACCUSED” IS NOT CONVICTED…NOT EVEN IN PUBLIC OPINION. IT’S EASIER TO THROW AROUND INNUENDO THAN POINT OUT FACTS. FACTS LIKE CLINTON’S USE OF FBI FILES ON HER OPPONENTS, OR TAKING MONEY FROM NORMAN HSU, OR OTHER UNSAVORY LITTLE FACTOIDS IN HER RESUME. OR WHAT ABOUT GUILIANI’S CONNECTION WITH BERNARD FIDDLING-WHILE-NEW YORK-BURNS- KERIK? HOW ABOUT WORRYING ABOUT THAT?]

Dr. Paul rarely loses online straw polls even though he barely registers in national telephone polls. His supporters argue that they win online polls because there are more Paul supporters and they’re better organized.

Many of Dr. Paul’s supporters say they’re simply fighting a media and political establishment that won’t give him a fair shake.

[LR: THAT’S NOT WHAT HIS SUPPORTERS “SAY.” UNTIL RECENTLY, THAT WAS THE CLEAR FACT]

The big Nov. 5 “moneybomb” fund raiser was timed to coincide with Guy Fawkes Day and inspired by the 1980s comic-book series “V for Vendetta,” in which a vigilante in a Guy Fawkes mask wages war against a totalitarian British state.

The Paul campaign has also drawn support from antigovernment fringe groups and 9/11 conspiracy theorists.

[LR: ANTI-GOVERNMENT IS FRINGE? THIS FROM A WRITER AT THE WSJ? SINCE WHEN IS A PURE CONSTITUTIONALIST “FRINGE” ? I GUESS SINCE  BIG GOVERNMENT WAR-MONGERS STARTED RUNNING THE PLACE.

AS FOR THOSE “CONSPIRACY THEORIES” ABOUT 9-11, WHY BOTHER WITH THEM? WHAT DO YOU CALL THE CLEAR-AS-DAYLIGHT “CONSPIRACY FACT” CALLED THE PROJECT FOR THE NEW AMERICAN CENTURY, SIGNED BY BONA FIDE, OUT-OF-THE-CLOSET CONSPIRACISTS, ALL WORKING IN MAJOR MEDIA OR IN GOVERNMENT. THAT’S THE CONSPIRACY THAT CALLS FOR AMERICAN DOMINATION OF THE WORLD (OH YES, AND OUTER SPACE TOO) AND ENDLESS, RANDOM, PREEMPTIVE WARS.

IT’S WHY THE REST OF THE WORLD IS GLOATING AS THE DOLLAR COLLAPSES.

LOOKS LIKE THE TIN-FOIL HATS ARE IN POWER — NOT ON THE FRINGE]

Since mid-September, a large “Ron Paul for President” banner has flashed at the bottom of white-supremacist Internet forum Stormfront.org.

[LR: OH YAWN! BACK TO SMEAR 101. MENTION PAUL NEXT TO STORMFRONT…HEY, WHY NOT HITLER, JACK THE RIPPER, GENGHIS KHAN AND BELA LUGOSI, TOO? MEANWHILE, WHAT ABOUT FEMINAZIS FOR HILLARY…..OR ZIONISTS FOR RUDY.

NOT AS CATCHY?

OR ARE SOME BIGOTRIES MORE EQUAL THAN OTHERS?

STORMFRONT – NASTY AS ITS LANGUAGE IS – DOESN’T YET HAVE A KILL RECORD OF MILLION PLUS. THE PROWAR LOBBY DOES]

“Really, we haven’t seen a candidate like Ron Paul in some time. The closest would have been Pat Buchanan” in 2000, says Don Black of West Palm Beach, Fla., the group’s founder and a former Ku Klux Klan grand wizard, who donated $500 to Mr. Paul’s campaign.

[EVEN ANDREW SULLIVAN THOUGHT THIS PIECE OF TRIPE WAS CHARACTER ASSASSINATION. BUT HERE’S WHAT. PAUL SHOULD RETURN THIS MONEY. BUT SO SHOULD GUILIANI, OBAMA, MCCAIN, CLINTON AND THE REST RETURN MONEY THEY’VE TAKEN FROM ZIO-CON RACISTS AS WELL AS FROM ANTI-SEMITIC EVANGELICAL RACISTS].

The Paul campaign has a hands-off approach when it comes to supporters’ activities and political backgrounds. While grateful for the money, aides insist they aren’t responsible for what supporters do online. “We don’t know who a lot of these people are,” says Jesse Benton, a campaign spokesman.

Mr. Benton declined to make Dr. Paul available to comment. “Sometimes, Ron Paul supporters get a little over passionate and maybe a little more shrill than what some might like,” Mr. Benton says. “For the most part, our supporters are polite and mannerly.” He has his own conspiracy theory: Some other candidates’ supporters may be masquerading as Ron Paul supporters to hurt his campaign.

[LR: YES, HOW ABOUT THAT? THAT WOULD NEVER HAPPEN NOW, WOULD IT?]

The impassioned campaigning threatens Dr. Paul’s efforts to convince undecided Republicans that he appeals to more than antiwar libertarians and fringes of the Republican Party.

[LR: ANTIWAR LIBERTARIANS ARE FRINGE REPUBLICANS? OH, PLEASE! ABOUT 40% OF THE COUNTRY (THE PART WHICH IS WIDE AWAKE) IS ANTIWAR AND ABOUT A THIRD THINKS SOMETHING WAS AMISS ON 9-11].

[Chart]

“Basically, it got to the point where someone could put up a post saying they were going to the bathroom, and a dozen Paultards would comment, ‘Vote for Ron Paul while you’re there,’ along with another dozen warnings of the Zionist conspiracy in the toilet,” says Erick Erickson, founder of popular conservative blog Redstate. A month ago, the site banned posts from some Paul supporters, branding them “MoRons.”

[LR; MORONS, PAULTARDS – WHY AREN’T THOSE IN QUOTES? THOSE ARE SOMEONE’S NASTY OPINIONS, NOT FACTS. MEANWHILE, YOU’RE ACCUSING PAUL SUPPORTERS OF BEING AGGRESSIVE.

DOUBLE STANDARDS, DON’T YOU THINK? AND NOTICE THAT YOU CALL REDSTATE BLOG “POPULAR,” WHILE YOUR WHOLE PIECE IS SLANTED TOWARD TELLING US THAT RON PAUL IS NOT.

YOUR BIAS IS SHOWING, DEAR. DO TRY TO COVER UP]

Afterward, the site was “deluged” with comments and “swarms and swarms” of hate mail, Mr. Erickson says. He changed the site’s phone number, and says other blog owners have contacted him seeking advice on discouraging Paul supporters from posting.

[LR: HATE MAIL? WHY DOESN’T ERIC ERICKSON COME OUT WITH THIS HATE MAIL AND SEE IF IT’S ANYTHING UNUSUAL OR JUST A FIGMENT OF HIS IMAGINATION. LET’S HAVE A LOOK AT THE MAIL WRITTEN BY CLINTON’S PEOPLE OR ROMNEY’S]

Cris Vanricma of Ludington, Mich., removed Dr. Paul from his bipartisan presidential poll, StrawPoll08.com, after receiving nasty emails from some Paul supporters, contending some polls that Dr. Paul wasn’t winning were rigged.

[LR: “NASTY EMAILS”…POOR DEAR. THE NASTIEST WEB POSTS ARE USUALLY FROM FOAMING-AT-THE-MOUTH FANS OF CARPET BOMBING AND THEIR STATIST BUDDIES. LIBERTARIANS (LEFT AND RIGHT) TEND TO BE LONERS AND NOT GIVEN TO PACK ANIMAL BEHAVIOR]

The 31-year-old Web designer made a blanket offer: If the messages stop, the congressman goes back on. So far, Dr. Paul remains off the poll.

[LR; YEAH., YEAH. I BELIEVE THIS AND I BELIEVE THAT THE ECONOMY IS DOING GREAT, AND I’M BUYING ME SOME BANK STOCKS FROM THE TOOTH FAIRY TOO]

With issues like the Iraq war and civil liberties at stake, some supporters argue that now isn’t the time for half-measures. David Chesley, 33, of Van Nuys, Calif., put his law practice on hold so he could support Dr. Paul. Mr. Chesley says he was attracted by the congressman’s views on protecting the Constitution after what he considers President Bush’s assault on civil liberties since the Sept. 11, 2001, terrorist attacks. “I have an obligation to make this my full-time job,” says the former Democrat. “All I do every day is go on the Internet or make phone calls or email the media.”

When he felt the media paid too little attention to the Nov. 5 fund raiser, Mr. Chesley, who posts as “RP2008” on a Ron Paul message board, was furious. On Nov. 9, he urged others to “ceaselessly bombard” media outlets. “You need to organize, call, boycott, protest and sue the media that is lying to us, and if you don’t, it is your own d- fault if Ron Paul loses,” he wrote.

[LR: “BOMBARD “– NICE TOUCH, THERE. AND THAT “DAMN” — NEVER EVER HEARD SUCH FOUL LANGUAGE FROM A HILLARY OR BARACK GROUPIE, HAVE YOU? O TEMPORA, O MORES….]

Some Paul supporters preach restraint. “I cannot stand to read another reporter/blogger complain about how they have received profane/threatening/intimidating responses from Ron Paul supporters,” wrote “Hestia,” a frequent poster on the Daily Paul, a popular pro-Paul site. “Sending hostile and abusive emails will not win supporters or encourage bloggers or reporters to write positive articles,” Hestia adds.

[LR: NOTICE THAT ALL THE ADJECTIVES PILED ON ARE NO MORE THAN QUOTES FROM A PAUL BLOGGER SUGGESTING WHAT NOT TO DO AND WHAT THE MEDIA IS ACCUSING PAUL SUPPORTERS OF DOING. BUT IT’S NOT WHAT PAUL SUPPORTERS ARE DOING.

NOTICE THAT THE REST OF THE ARTICLE IS A QUOTE FROM ANOTHER JOURNALIST OPPOSED TO PAUL TO SUCH AN EXTENT HE CALLS ALL HIS SUPPORTERS MORONS AND RETARDS.

NOTICE THAT THE REST OF THE ARTICLE DOES NOTHING MORE THAN GLOM ON TO STORMFRONT AND A 500 BUCK DONATION.

NOTICE THAT NO ONE’S TALKING ABOUT THE HUNDREDS OF MILLIONS GIVEN BY THE ZIO-CON WAR MACHINE THAT KILLS MILLIONS IN COLD FACT, NOT JUST WHAT SOME SMALL GROUP OF MARGINAL RACISTS HAPPEN TO SAY.

SO AT THE END OF THE DAY, ALL THAT’S FACTUAL IN THIS PIECE IS THAT SOME JOURNALISTS (WITH AXES TO GRIND) ACCUSE PAUL FANS OF BEING HOSTILE, ABUSIVE, THREATENING, PROFANE …..

MAYBE THEY’VE BEEN LOOKING INTO THE MIRROR TOO LONG. SOUNDS LIKE THEY’RE DESCRIBING THEMSELVES]

 

Write to Amy Schatz at Amy.Schatz@wsj.com.

And here’s a sample of Ms. Schatz’ prior reporting on Ron Paul – “Ron Paul: Capturing the Spammer Vote?.
This piece with its sniffiness (“not ready for prime-time”) not-so subtly suggests that Paul is winning polls only by ballot stuffing, without which Guiliani – surprise! – would be the winner.

The same allegation in repeated in this next piece of hers, only a month later in March 2007, “Ron Paul Finds Enthusiastic Supporters.”

Of course, Ron Paul fans aren’t the only one whom Ms. Schatz would like to put in their place. She’d like to put the blogosphere back in the kitchen next to the help, as evident from this Outside the Beltway reference to “self-appointed bloggers.”

 

Financial Follies: questioning the oil price

The oil price, everyone tells us, is exploding upward because of…demand from Asia….fears about supply interruptions….geopolitical worries...diminishing supplies….

Maybe all those. But I blogged another explanation recently which made sense. If you are a Saudi sitting on top of a pile of dhirams pegged to the dollar and the dollar is tanking, you can’t dump your dollars in a hurry without setting off an even bigger avalanche, right?

So, what if you hiked the oil price in bucks to cover your losses and used the dollar as collateral (very illiquid) to buy up more useful assets?