LIVING OFF DIVIDENDS & PASSIVE INCOME

There’s a very interesting documentary on Google Video – The Money Masters.

It traces the history of money in America and how the Fed is screwing the American people. Incredibly interesting. Its 2 hours long but worth it.

It explains how the standard of living has decreased in the past 25 years and how rampant inflation is caused by the fact that the US Government doesn’t own the money, but rather borrows it from the Feds, who charge interest for this.

The Fed is not a government entity but a group of private banks whose sole motivation is to make the highest return on their money.

Also the banks are able to lend money using “Fractional Reserve Banking”. Basically the same dollar is lent out 10 times at 8% giving them a total return of 80%. Essentially, they use our money to push us deeper into debt. And since good old Bush passed a law making it almost impossible to file bankrupcy, we’re destined to a life of slavery!

Yet another reason to invest in foreign currencies and gold!

To hear a great conspiracy theory by well-known director Aaron Russo listen to his interview about his new movie, Freedom to Facism.

I tried to open an account with an online bank called Everbank. Apparently they want color photos of my passport, a notarized letter from my bank and a filled out W-8 form. This is too much work!!! All I wanted to do was open a CD which invests in foriegn currencies like the Canadian, Australian and New Zealand Dollar.

Instead I decided to open an account with Interactive Brokers. They even have better interest rates and the money is much more liquid.

• Why Inflation Is Bad When the Fed prints more currency notes (to pay for the war and the interest on all the T-bills we've dumped on the rest of the world) it devalues each existing dollar in circulation. This is an inflation in the money supply and its bad for us in the long......
• Should You Punish Greed and Stupidity? According to Reuters: A New York man who discovered that millions of dollars had mysteriously appeared in his bank account, and withdrew more than $2 million, has been arrested on charges of grand larceny, prosecutors said on Wednesday. Benjamin Lovell, 48, pleaded innocent on Tuesday to charges that he withdrew......
• What type of blog reader are you? Moomin Valley has an interesting post on the different types of financial bloggers. He theorizes on the two main types - those who are trying to save money, and those are trying to grow their money.Quite an interesting concept. [He is an economics professor so his job is to theorize......

• Comparing My ING Orange Account To Higher-Interest Savings Accounts. For the last 6.5 years, I have been a very happy customer of ING Direct. I have been keeping my emergency fund, my taxes account, and our "buy a home" savings accounts there and have never had any problems with them...well, except for their interest rate. There was a time......
• 6 Percent Online Savings Accounts: Fact or Fiction Many Americans have been looking online to get better rates of return on their money in the last few years. Some individuals chase ultra high-yield investments which often turn out to be scams, but they’re the exception rather than rule. Most people looking for better interest rates on their money......
• Paying Too Much For Gas? Tax Yourself! According to GasBuddy, the average gallon of unleaded gasoline in the United States is $1.86. This is a far cry from $4.00 we were seeing just last summer. The price per gallon of gas was $2.76 even just a year ago today. The price of gas definitely put a strain......

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