I thought this would be the year. The year I didn’t get supremely irritated during family pictures. What’s better than family pictures? Family pictures outdoors in 99 degree weather after driving an hour in rush-hour traffic. Well, better luck next time.
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The day started well enough. It was Paint Fest, and in spite of a dismal turnout a good time was had by all. I managed to finish a Scorpion Grav Tank, you can see the video for that below. That brings the Oceanic Eldar up to an un-sell-able 3000 pts ($1750 if you want to buy the army now, limited time).
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I am having a periodic “bad day”. I’m glum also because sales are down. Nothing spectacular, just the regular dip. But I don’t have to like it. Speaking of which, we are wide open for August. I am caught up on my Inbox (well, like three emails left), so I am just standing here waiting for a call or email.
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Yawn.
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Maybe it would be best to retire to the couch and watch some Star Trek.
My wife reminded me yesterday that we had a family outing today. And by “reminded” I mean told me for the first time, but then insisted that she told me already. “Well, you must have just forgot.” she says. So, how can I tell the difference? Does anyone else have this problem?
I’ve started requiring that she email me everything and get confirmation.
But it is all right. I left laptop, books and everything behind and headed out with my darling family to the water park. Floating slowly along in an innertube, little baby girl nestled on my lap, was a bit of paradise. She was wearing a little yellow outfit with a floppy yellow hat. She is the mildest, most darling baby; so tender and happy. I just love being around her.
I did manage to squeak in a few hours down at the studio, just getting everything sorted. I am wringing my hands a bit– I need to get projects set up for August.
I plan on re-launching the Pandora’s army special again. It got a lot of support. We are currently working on seven armies for it (four different types), each one quite exciting. About half of them feature something from Forge World.
The Pandora’s Army special is probably going to reincarnate as this: $850 for a 1500 point army ($450 deposit pulls the trigger). Three nixes (specify three armies that it can’t be). Options as follows: plus $250 brings it up to 2000 pts, plus $100 reverses the nixes (you specify three armies, we pick which one it gets to be). I wanted to present some armies first, but if anyone is ready to go, then by all means let’s proceed. This adventure has been received very well by artists all around. There is a special excitement on account of the broad license to do as we please. I think it makes for a much better result.
[Here is an article for your consideration. I am extremely interested to hear/publish a counter-argument. Does anyone have one? Sometimes I imagine a picture-perfect universe if only X would happen, but maybe that universe is not so rosy.]
July 9, 2009
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The Fed Must Be Stopped
Written by: Ron Paul
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Our country currently finds itself in the midst of the worst economic crisis since the 1930s and, as during all economic crises, people search for the answer as to why this has happened. Not only have large financial firms been affected, but also mainstays of American industry such as GM and Chrysler, all the way down to the Mom & Pop stores on Main Street. The easy way out is to blame the traditional scapegoats: foreign governments, fraudulent businessmen, and greedy speculators. But the real villain is far more sinister; the organization entrusted with maintaining a stable dollar and touted as the guarantor of economic stability – the Federal Reserve.
. In the United States, monetary policy has been the domain of the Federal Reserve since its inception in 1913. Since that time we have had a number of cyclical recessions, each one following a boom caused by the Federal Reserve’s loose monetary policy. The problem with the Federal Reserve is that it interferes with market pricing functions. Interest rates are a price just like any other and arise because of the fact that people prefer to consume in the present rather than in the future. The extent to which people defer present consumption is reflected in interest rates, which in a free market are determined by the spontaneous interactions and decisions of millions of people.
. Fed intervention to set prices throws markets and interest rates out of equilibrium. When the Federal Reserve pushes interest rates below what the market rate would be, everyone wants to borrow money for long-term projects. Shortages of loanable funds would occur, except that the Federal Reserve has the ability to create bank balances out of thin air. The Fed can create a bank ledger on paper, or on a computer, establish a balance of millions or billions of dollars, and then spend these dollars out into the economy.
. Loans become cheap, and the result of these lower interest rates is an economic boom which eventually manifests itself as a bubble. Beginning in 2001, the Federal Reserve pushed interest rates to as low as one percent, which after adjusting for inflation meant that the real interest rate was negative, so businesses were actually making money by taking out loans. This was the fuel for the housing bubble and the reason there are 19 million empty houses today.
. Because of this awesome power to create money out of thin air, the Fed has jumped in to stabilize ailing financial firms by pledging over $7 trillion through various guarantee programs and credit facilities. This is equivalent to over half of the entire nation’s GDP. Over $1 trillion of this is already in play, propping up banks and other institutions that should be allowed to fail. All of this has taken place with no oversight by Congress. The Fed was created by Congress, and it is unconscionable that we have allowed it to act in such a way without our oversight.
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Currently the Federal Reserve’s credit facilities, open market operations, and agreements with foreign governments and central banks are all exempt from any sort of audit or oversight. Earlier this year I introduced the Federal Reserve Transparency Act, HR 1207, that would remove all restrictions on Federal Reserve audits and call for a f ull audit of the Federal Reserve System to be completed by the end of 2010. At this writing, 245 of my fellow Congressmen have cosponsored this bill and we hope to have hearings in the near future. In the Senate, Republicans Jim DeMint, Mike Crapo and David Vitter have cosponsored S. 604, companion legislation introduced by Bernie Sanders. I am very encouraged by the tremendous growing momentum on Capitol Hill.
. Our Founding Fathers never intended for a single entity such as the Federal Reserve to have this much power. In fact, there is no authority in the Constitution for the federal government to create a central bank, to enact legal tender laws, or to print paper money. The Tenth Amendment is quite clear that “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.” The states themselves are prohibited from emitting bills of credit, i.e. paper money, arising from the Founders’ negative experiences with paper money during the Revolutionary War. Cheap, un-backed, easily counterfeited paper money nearly lost the Revolution, until the government returned to minting gold and silver coins. Unfortunately, like too many other lessons learned by the Founders, the painful experiences of paper money have been forgotten by those living in the pres ent. We even ignore the experiences of Germans in the 1920s, Argentines in the 1980s, and Zimbabweans over the past decade. The Fed doubled the monetary base last fall in a matter of months, and God help us if any of this high-powered money begins to make its way through the economy.
. An audit of the Fed is only the first step towards returning to where our Founders intended this country to be. The Founders knew that paper money could ruin a country, and drafted the Constitution in such a way that they thought would ensure sound, commodity-backed currency. Unfortunately, the Constitution was dispensed with long ago, and we find ourselves now suffering under an unconstitutional regime of un-backed paper money.
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Until we abolish the Federal Reserve and return to a stable currency that is not able to be manipulated to create boom and bust cycles, we will continue down the path of economic ruin.
Well, the call of Tzeentch has been heard. The pic is of a figure by a company from Spain. The game’s name is Hell Dorado. The figures are pretty disturbing. They’re sort of hard to get. I happened across a few, so I have an unpainted version of this vulture creature thing. I’m going to use it as a Changeling.
I was up at 7am this morning, answering emails. I am standing by to set up projects. We’ve been clearing things out at record pace. I have in my heart that I want to keep BTP’s excellent crew busy. Will you do us the honor of putting us to work? It is a high compliment that someone would trade part of their life (time to produce something that is sold for money) for part of our life.
Once at the studio I realized I was pretty much caught up. So, when the good wife called and said she was going out to run some errands, I jumped on the bandwagon. All six of us in the van, then lunch at Sam’s Club (hot dogs, ice cream, pizza and soda). Then when we got home, Tamie had to run an errand (some school meeting) and asked if I could stay home with the kids. I find it nearly impossible to say no to her. I just love her so much and want to be useful for her.
But it didn’t stop there. I went to sleep on the couch to an episode of Star Trek (now in season five). So, I managed to get back to the studio around 4pm. I stayed late and wrapped up almost every loose end. There are still some projects waiting to have pics taken.
I could be wrong, but the issue of inflation seems like small potatoes compared to other questionable ways that banks make money. About a week ago, Matt Taibbi published a pretty amazing piece in Rolling Stone about Goldman Sachs that has drawn the ire of the company.
How the Federal Reserve Causes Inflation Here are some quotes from the book “Meltdown” by Thomas Woods (2009) followed by my own comments. I think it is important for humans to understand the world in which they live. I live in a world where I will spend ten to twenty years of my life working indirectly for bankers. I will sweat, they will eat the bread.
I am not upset about this. There is an abundant and gracious God in Heaven who has opened my heart to the beauty of the world. I will only be here a short while. He will make all things right in the end. Nevertheless, it is the song of every soul to improve the world, and to bring truth to light.
And so here I go.
The Federal Reserve controls the American money supply and can influence interest rates either upward or downward; it can also function as a “lender of last resort.” Although people use the phrase “printing money” as a kind of shorthand for what the Fed does, the Fed increases the money supply not by printing cash and putting it into circulation, but by what are called “open-market operations,” which involve the purchase and sale of assets. Strictly speaking, the Fed can purchase any kind of asset it wants, but it normally purchases government bonds. If it wants to increase the money supply, it purchases, say, $1 billion in bonds from a bond dealer. It makes the purchase by writing a check on itself for $1 billion and handing it to a firm like Goldman Sachs in exchange for the bonds. It creates this $1 billion out of thin air.
Goldman Sachs then deposits this $1 billion check from the Fed in its bank. That bank doesn’t put the e$1 billion in a special vault with “Goldman’s Money” on the door. Instead, the bank will lend out most of that $1 billion, since the law only requires it to keep a small percentage of its deposits on reserve. (Most of the banks’ reserves, incidentally, are kept in its own account at the Fed, with a small amount in cash in its vaults to satisfy normal day-to-day requests for cash by the bank’s depositors.) When the bank, in turn, lends out the money, borrowers spend it, and it winds up in accounts in other banks, which use most of that money in still another round of expansion, and so on. With a reserve requirement of ten percent, the initial $1 billion will have supported $9 billion in additional lending by the time this process is complete. All of this $10 billion has been created out of nothing: the initial $1 billion check from the Fed, and the additional $9 billion in loans that the fractional-reserve banking makes possible, were produced out of thin air. Should the Fed wish to contract credit, it follows this procedure in reverse: it sells the bonds to the banks, and the money it receives for them—and the further increase in the money supply that the fractional-reserve system then created on top of it—are withdrawn from the economy.
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Although people often define inflation as a general rise in prices, and economists themselves employ that definition as a kind of shorthand, inflation is actually the increase of the money supply itself (which in turn leads to higher prices than would otherwise have prevailed). Specifically, it is an increase in the amount of money in circulation not backed by the monetary commodity—in other words, an increase in paper-note claims tot gold not backed by increases in gold itself. Under a fiat standard, which the countries of the world have now, in which the monetary system is not backed by a commodity, we can define inflation simply as an increase in the amount of paper money in circulation.
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Consider this question: in what order and in what way does the new money make its way through he economy? When eh government inflates the money supply, the new money does not reach everyone simultaneously and proportionately. It enters the economy at discrete points. The earliest recipients of the new money include politically favored constituencies…: banks, for example, or firms with government contracts. These privileged parties receive the new money before inflation has pushed prices upwards… the privileged firms that are lucky enough to get the new money benefit from being able to make their purchases at the previously existing price level—thereby silently looting those from whom they buy. When the average person gets his hands on this new money… prices have already been rising for quite a while… The value of his money was diluted by the new money before it ever reached him.
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Now imagine a situation in which business firms or banks connected to the government receive a new influx of money courtesy of Fed credit expansion. That money comes out of thin air, not from the sale of some previous good or service. Thus when these favored firms spend this money, they are in effect taking goods out of the economy without providing anything themselves. Here we see very clearly how they benefit at the expense of the rest of society: they take from the stock of goods without giving anything in return. The money they pay for their goods didn’t originate in a good or service that they themselves had previously provided; it came from nowhere. The analogous case under a system of barter would be one in which, instead of trading my bread for your orange juice, I just [drink] your orange juice.
— Thomas Woods, Meltdown (2009)
Shawn’s Comments I have read this book twice now, underlining and taking notes. The first third of the book is an overview of recent history; the bailouts (even a few notes about those in the last few decades), deregulation, regulation and nationalizing banks. Then the meaty parts: the core mechanics of how things work; what is money? what is inflation? The book ends with a chapter entitled “What Now?” which gives suggestions about how sound principles can restore some sense of reason
All of this has been of profound effect on me. I wasn’t expecting this book to help me in the micro-economic function of my business, but it indeed helped me to understand my universe better and to act on it. I have cut the banks out of the loop. I have started integrating the ideas of commodities, barter and real money into my life. I have started living more within my means.
I don’t like conspiracy theory. Even if it were true, what could I do about it? That’s why on this blog I try to take a more “common-man-bolts-and-nuts” approach.
One profound impression I had is that the common man is indeed capable of understanding these things. Indeed, I think that each citizen would do well to put down the game-controller for a month and gulp down a few books on economics.
It doesn’t take a genius to know that if every dollar were suddenly twinned, then prices would go up.. how much?
Why are homes and college educations so expensive? These are sectors where credit expansion is the most rampant, and where government has distorted economic reality the most.
If a house were to cost $50,000 could you buy one outright? Could you save up over time?
Right now, home prices are seeking their real, true value.
It’s starting to make sense.
As usual, I invite differing viewpoints. Is this book wrong? Are there factual errors? Am I not seeing the whole picture? I am just an average guy trying to put it together.
It’s an “attack” on the Federal Reserve (he’s not questioning or advancing). Ron Paul has a “gang” (not a coalition or alliance) It’s Ron Paul’s “little” bill (what’s little about it?) He has a “vendetta” against the Federal Reserve. He’s a “radical” (not a forward-thinker or a leader). His “gang of 244” (since when is 244 people out of 435 a “gang”?) Congress is “upset” and “doesn’t like” the Fed.
The Fed is only going to “intervene responsibly” when “necessary”. Oh thank goodness! The good and wise Federal Reserve is always there to lend a helping hand!
Remember, the Federal Reserve is a private entity. It controls the one thing that you can’t trust anyone with: the money supply. In fact, the very definitioin of money has been warped in the last 100 years (since 1913 when the Federal Reserve was established).
This bill (HR 1207) is only so we can take a limited look inside. It amazes me that this is considered to be extraordinary. The commoners want a tour of the castle, the mysterious castle from which the decrees are issued. We wait with baited breath while our betters make the decisions.
Here are the trade-in rates for July 2009. I’m offering service credit in trade for models. Read this completely as I have recently improved several aspects of this program. Notably: I am now trading in army books. Also, you do not need to figure out the retail prices of your trade-in items.
. You can usually get a much better deal going to the secondary market (local shop, ebay) on your own. However, the advantage of trading in with us is that you are likely to be able to unload disparate items without a lot of hassle (e.g. finding various buyers, setting up payment, lots of minor questions).
. If you want to trade in, we need a list of what you have. You do NOT need to calculate the retail value, but it helps. Please tell me the condition (e.g. new in box, new on sprue, assembled, primed). The rates below are a multiplier. If the entry says 0.30 it means you would get $30 for $100 worth of retail items. Just take the retail total and multiply it by the number. You do not need to figure this out; you can just send in your list of stuff to bluetablepainting@gmail.com
. In the past I have only allowed for half or less of a project to be paid in credit this way. But for the time being I am lifting that restriction.
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I just know there’s someone who goes out to their garage, surveys the mass of unpainted models, sighs then turns out the light. This program will hopefully allow someone with the “white primer horde” to finally show up with a painted army. As an added bonus, your models will get a good home where they will be painted and loved.
. We don’t need painted figures. Exception: if they only have a little bit done with them; not too thick, not too many layers. Primed models are OK, again not too thick.
. You can also get a credit of at least $10 to help with your shipping costs. This is on request. . If you want to trade-in figures, but don’t have a project ready, that’s OK, I will confirm your total and then you will have it on tap for when you want to use it.
. This trade-in is recorded as a payment on your project. It is non-refundable except at our discretion (eg you can’t refuse the project and then get your trade-in amount refunded as cash). Trade-in can be applied to cost of models, assembly or painting as you wish. This means you can also just get models sent to you (this is limited to models that are commonly available, eg not Forge World).
. Generally, we only need in-print models that are currently in production.
. These rates and conditions may change so it is recommended to check in every once in a while. I am likely to update the numbers about once a month. The plan right now is to update every first of the month. Fairness is the guiding principle.
. Forge World 0.49 . Army books $8 credit (must be current edition, no OOP)
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Assault on Black Reach Models: Complete set of orks $9 credit Complete set of space marines $9 credit Space Marine Dreadnought $5 credit Small rulebook $5 credit Template sprue (complete) $3 credit
I am caught up at the studio and standing by (as always, even if we are busy!) to set up new projects.
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You should know that I am completely at your disposal.
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I have some clients who will call me and set up everything by phone. I will take dictation about army specifications and also offer advice and help with army theme and list.
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Alternatively, you can set up a project on your own, to any degree.
