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Pro-Gun Republican to Replace Andrew Jackson on $20 Bill

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dollar-1342115_960_720We’ve been teased for the better half of the past year about changes coming to our currency. First we were told a woman would be replacing Alexander Hamilton on the $10 bill – only to then find out she’d only be on the back of the bill. Many liberals complained that whatever woman did eventually make it onto the $10 would be getting the “back of the bus” treatment.

Some suggested that a woman on the $20 would be more appropriate. Andrew Jackson was, after all, opposed to a central bank (which we have today in the form of the Federal Reserve System).

It looks like the Treasury ran with that idea. As the New York Times just reported, the Treasury has axed their original plan, and it’s now the $20 getting a facelift.

The Treasury Department will announce on Wednesday afternoon that Harriet Tubman, an African-American who ferried thousands of slaves to freedom, will replace the slaveholding Andrew Jackson on the center of a new $20 note, according to a Treasury official, while newly popular Alexander Hamilton will remain on the face of the $10 bill.

It’s not just an abolitionist replacing a slaveholder – it’s a pro-gun, Republican, abolitionist, replacing a Democrat slaveholder. (Read more from “Pro-Gun Republican to Replace Andrew Jackson on $20 Bill” HERE)

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Louisiana Man Cashes in Life Savings in Pennies

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Ruston resident Otha Anders started saving his first penny more than 45 years ago when he found it on the ground . . .

“I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful,” said Anders, 73. “There have been days where I failed to pray and more often than not, a lost or dropped penny would show up to remind me.”

Fifteen five-gallon plastic water jugs and half a million pennies later, Anders on Tuesday deposited $5,136.14 into his account to go toward a recent dental bill . . .

After that first coin, Anders said his penny pile began to grow and he ultimately stopped spending pennies and always made sure whenever he made a purchase, his change contained at least three to four pennies.

Bank Vice President Jennie Cole said it was not a typical day at the bank when Anders had his collection of pennies rolled in on a dolly, but Anders is a longtime customer who they wanted to help. (Read more from “Louisiana Man Cashes in Life Savings in Pennies” HERE)

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Investor: Markets ‘Extremely Overheated,’ Especially in Junk Bonds

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Carl Icahn warned investors on Wednesday that he believes the market is “extremely overheated—especially high-yield bonds.” ( Tweet This)

“I think the public is walking into a trap again as they did in 2007,” the activist investor told CNBC’s “Fast Money Halftime Report.” “I think it’s almost the duty of well-respected investors, like myself I hope, to warn people, to tell people, that really you are making errors.”

Icahn compared the current market situation to the prerecession days, when mortgage-backed securities were being widely sold. “It’s almost deja vu,” he said. Many companies are selling at huge multiples and reporting earnings that are “sort of fudged” due to various accounting methods, he said.

“I do think you are going to have a dramatic pullback, certain things may happen,” he said. To remedy this, Icahn would like to see the government and regulators look at the way earnings and guidance are reported by companies. (Read more from “Investor: Markets ‘Extremely Overheated,’ Especially in Junk Bonds” HERE)

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Texas to Take Back $1 Billion in Gold From the Fed‏

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Governor Greg Abbott [this week] signed House Bill 483 (Capriglione, R-Southlake; Kolkhorst, R-Brenham) to establish a state gold bullion depository administered by the Office of the Comptroller. The law will repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas. The bullion depository will serve as the custodian, guardian and administrator of bullion that may be transferred to or otherwise acquired by the State of Texas. Governor Abbott issued the following statement:

“. . .I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.” (“Texas to Take Back $1 Billion in Gold From the Fed‏”, originally posted HERE)

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Rep. Massie’s Novel, Common Sense Bill: Use all the Billions the Feds Collect For Roads and Highways … On Roads and Highways [+video]

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At a recent House Rules committee hearing, one of my colleagues from New York declared that the potholes in her district are so bad, “you can lose your car in them.” Kentuckians and Americans from all over the country agree. It is long past time that something was done to address the deplorable state of the highways and infrastructure in this country.

That is why I recently introduced the “Developing Roadway Infrastructure for a Vibrant Economy Act.” The DRIVE Act (H.R. 1461) would ensure that money in the Highway Trust Fund is actually spent on highways. Common sense would lead most people to believe that the gas tax revenue that funds the Highway Trust Fund should be spent specifically on highways, roads and bridges. However, when it comes to the operations of Congress and the federal government, common sense is uncommon.

Many Americans are unaware that gas tax revenue is regularly diverted from the federal Highway Trust Fund for such things as bike paths, sidewalks, mass transit and other purely local projects. This must end. Inflation and vehicle fuel efficiency have drained the fund so that it no longer generates enough revenue to pay for all the improvements necessary to ensure that our highways and bridges are safe and adequately maintained.

Each year, approximately $9 billion in the Highway Trust Fund goes to the Mass Transit Account, which funds local public transportation projects, including subways, light rail, buses and streetcars. Current federal law also allows the money in this trust fund to go toward sidewalks and bike paths. While I recognize the value of sidewalks and buses, taxing gasoline and routing that money through Washington is not the way to fund these inherently local projects.

Congress continually attempts to solve the problem with temporary “patches.” For example, in July 2014, Congress transferred $10 billion in tax revenue from the General Fund to the Highway Trust Fund to keep it solvent. Just last month, we again voted to temporarily patch the Trust Fund. This “patch” only lasts 60 days, though, ensuring that in two months, Congress will again be forced to deal with a manufactured emergency. As with most of these so-called emergencies that we regularly face in Congress, this one could be avoided if members would get their priorities straight and realize the urgency of a long-term solution for our deteriorating roads and bridges. (Read more from “Rep. Massie’s Novel, Common Sense Bill: Use all the Billions the Feds Collect For Roads and Highways … On Roads and Highways” HERE)

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Almost Half of US States Are Officially Broke

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download (16)Last month, we documented the case of Louisiana State University, the large, well-known public institution whose 2014 enrollment totaled nearly 31,000 students. LSU, it turns out, is facing funding cuts of as much as 82% which, if realized, would likely force the school into financial exigency, the college equivalent of bankruptcy. The reason for the cuts: the sharp decline in oil prices and fiscal mismanagement have conspired to blow a $1.6 billion hole in the state’s budget.

Bloomberg has more:

With tax revenue from the oil industry falling short of projections, the deficit has swelled to $1.6 billion for the fiscal year that starts July 1. Moody’s Investors Service and Standard & Poor’s say they may lower Louisiana’s credit rating if officials don’t come up with sustainable budget solutions . . .

The real problem however is that large budget shortfalls aren’t confined to Louisiana. In fact, a new study from AP shows that big gaps are becoming more the rule than the exception across the US.

Via AP:

An Associated Press analysis of statehouse finances around the country shows that at least 22 states project shortfalls for the coming fiscal year. The deficits recall recession-era anxiety about plunging tax revenue and deep cuts to education, social services and other government-funded programs.

(Read more from “Almost Half of US States Are Officially Broke” HERE)

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17,000 Federal Employees Earned More Than $200K Last Year

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Photo Credit: WNDBy Eric Katz. More than 16,900 federal employees took home in excess of $200,000 in base salary in 2014, according to a partial database of federal salary data.

The information, compiled by FedSmith.com using data from the Office of Personnel Management and other agencies, shows the annual compensation for every civilian federal worker, save those at the Defense Department. The number of workers earning more than $200,000 represented about 1.6 percent of employees on the list and is up from about 15,000 who cleared that salary in 2013. It also makes up a slightly higher percentage of the employees on this list.

Most of the high earners worked as medical officers at the Veterans Affairs Department. Other agencies that require a highly specialized workforce paid several employees at least $200,000; these included the National Institutes of Health, the Centers for Disease Control and Prevention, the Food and Drug Administration, the Office of the Comptroller of the Currency, the Federal Housing Finance Agency, and the Securities and Exchange Commission.

More than 1,600 federal employees cleared $300,000 in base salary last year. Just two—VA doctors in Palo Alto, Calif., and Pittsburgh—took in more than $400,000. (Read more from this story about what federal employees earned HERE)

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Lois Lerner Received $129K in Bonuses

By CJ Ciaramella. Former IRS official Lois Lerner received $129,300 in bonuses between 2010 and 2013, records obtained through the Freedom of Information Act show.

Over a three-year period, Lerner, the head of the tax-exempt division at the heart of the IRS targeting scandal, received a 25 percent retention bonus—averaging $43,000 a year—on top of her regular salary.

The federal government uses retention bonuses to incentivize valuable employees who are considering retirement or private sector jobs to stay at their agencies.


Former acting IRS commissioner Steven T. Miller recommended Lerner for a $42,000 retention bonus in December 2009, when she first became eligible for retirement.

“Ms. Lerner is eligible for retirement and as an attorney with extensive experience would likely command a much greater pay and benefits if she left the Service,” Miller wrote. “Without a retention incentive she will leave the Service.” (Read more from this story HERE)

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Democrats Really Don’t Want You To See Who Is Winning This ‘Money in Politics’ Race

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Photo Credit: IJ Review

Photo Credit: IJ Review

A rallying cry you’ll often hear among the political left is, “get money out of politics.” You can see this in the strategy of the month for Democrats, which involves Harry Reid doing little more than breathlessly smearing the GOP with absurd exaggerations like “the GOP is bought and paid for by the Koch Brothers.”

Since 2014 is a Congressional election year, let’s take a look at the current races and see just exactly who is raising more money and pandering to the the “evil rich.”

Check out this WSJ graphic:

NA-CA809A_POLMO_G_20140415205106

Read more from this story HERE.

Pope Attacks Global Economics for Worshipping ‘God of Money’

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Photo Credit: Reuters

Photo Credit: Reuters

Pope Francis made one of his strongest attacks on the global economic system on Sunday, saying it could no longer be based on a “god called money” and urged the unemployed to fight for work.

Francis, at the start of a day-long trip to the Sardinian capital, Cagliari, put aside his prepared text at a meeting with unemployed workers, including miners in hard hats who told him of their situation, and improvised for nearly 20 minutes.

“I find suffering here … It weakens you and robs you of hope,” he said. “Excuse me if I use strong words, but where there is no work there is no dignity.”

He discarded his prepared speech after listening to Francesco Mattana, a 45-year-old married father of three who lost his job with an alternative energy company four years ago.

Mattana, his voice trembling, told the pope that unemployment “oppresses you and wears you out to the depths of your soul”.

Read more from this story HERE.

Secret to Investing Well Woven in the Bible (+video)

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the_holy_bible-483Most people know Sean Hyman from his regular appearances on Fox Business, CNBC, and Bloomberg Television, but what they don’t know is that Sean is a former pastor, and that his secret to investing is woven within the Bible.

Perhaps that can explain why, despite his uncanny ability to predict precise moves in the stock market, Sean is often laughed at for his unique stance on investing.

For example . . . a few months ago Sean appeared on Bloomberg Television. At that time, Best Buy (BBY) was dropping to all-time lows of $16 a share. Sean predicted the stock could go down to $11 a share, and would then quickly rebound to $25 per share, and after that would rally to $40 per share over the next year.

Another commentator on the show actually mocked Sean for his stance, saying “$40 on Best Buy? If that’s the case Apple (AAPL) is going to $1,500. That’s the most ridiculous thing I have ever heard!” (Editor’s Note: At the time, Apple was trading at $650 per share).

Within a few weeks, Sean would receive the last laugh.

Read more from this story HERE.