Santa: The following are our Christmas wishes for the bottom 95% of Americans - as measured by either income or total assets.
A People's QE
The Fed creates $85,000,000,000 (perhaps reducing to $75 Billion in January) per month - Quantitative Easing or QE - and feeds it to the bankers, the wealthy, and the politicians. A people's QE is for the Quality Enhancement of the bottom 95% - an additional $85,000,000,000 per month distributed to 315 million people in the U.S. Santa: please deliver $ 270 to each person monthly, or at current prices, about 14 ounces of silver per person per month, or about 3 ounces of gold per person every 14 months.
It would be grand if congressional approval ratings stayed above 70% because congressional actions beneficially represented the nation and the needs of the people instead of large corporate interests and their own payoffs. Santa: we know this is probably hopeless, but please make congress and the government more truthful.
Jobs For Americans
Does shipping jobs offshore and closing factories make America stronger and a better place to live? The "profit for me but unemployment for you" approach is not a good plan. Santa: please open American factories and create more local jobs.
We pray for a new financial industry that encourages a productive economy instead of gouging the middle class to promote CEO bonuses. Santa: this is a tough one, but your help would be appreciated.
Most of us would benefit from a medical profession that encourages good health, prevention, and sane living instead of highly profitable sick care, huge medical expenses, and the "take a pill" mentality promoted by the big Pharmaceutical companies. Santa: we need healthier food, less drugs, more exercise, and fewer destructive habits.
Price fixing, such as in the markets for LIBOR, currencies, bonds, gold, silver, and crude oil damage the integrity and credibility of markets and hurt the lower 95% with a higher cost of living. However, price fixing enhances banker bonuses. Santa: please help the 95%!
Does it make sense that the dollars EARNED by actual work are valued the same as the "funny money" dollars that the Fed "prints?" Santa: please bring honest money back to our world.
Peace On Earth
War is highly profitable for many businesses but it kills and hurts people. Santa: please inspire peace and good will in the hearts of the warmongers.
My Christmas Wish is that we will live in a better world that includes honest money, real markets, and individual good health. Have a warm and loving Christmas and a 2014 filled with more hard assets and fewer paper assets.