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Posts Tagged ‘United States Postal Service’

English: Canada Post LLV in service

From the August 17, 2012 Toronto Star article, Canada Post changing how it delivers mail:

“The amount of mail in the system is declining, so we need better and more efficient ways of delivering the mail,” said Canada Post spokesman Jon Hamilton, emphasizing once the new method is implemented across Canada it should result in annual savings of $250 million.

The new model won’t adopt the U.S. Postal Service’s style where delivery vans often pull up to mailboxes at the curb where carriers don’t get out of their vehicles.

Hamilton said this new system will help reduce labour costs, which account for 71 per cent of Canada Post’s budget, because by changing starting time, letter carriers will be able to mail pickups at the end of their shifts.

Previously, I wrote the article, Canada Post as a model for saving the U.S. Postal Service, wherein I documented Canada Post’s 16-year consecutive profit, showing that government services are capable of being competitive, despite the constant rhetoric of well-funded government-regulated and government-sanctioned entities like the Mises Institute.

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English: Canada Post LLV in service

In her January 9, 2012 Truthout article, Saving the Post Office: The Models of Kiwibank and Japan Post, Ellen Brown argues why the New Zealand and Japanese postal services are a model for saving the U.S. Postal Service.

She highlights them because they have public banking operations.

She states:

The USPS is a profitable, self-funded venture that is not supported by the taxpayers.

I don’t know where she got the claim that they are profitable, since CNNMoney reported in February 2011:

[I]t suffered a loss of $329 million in the first quarter of federal fiscal year 2011. That compared with a loss of $297 million a year earlier.

If you think a $329 million loss in a single quarter is bad, consider what happened in the third quarter:

The U.S. Postal Service posted a net loss of $3.1 billion in its third quarter and warned again it would default on payments to the federal government if Congress did not step in.

She criticizes Stephen Zarlenga’s American Monetary Act as being too radical of a change.

On the same basis, I propose a very simple model for saving the U.S. Postal Service, and that is Canada Post.

It’s been profitable for the past 16 years, it reported its most profitable year in 2010 despite the ongoing financial crisis, and boasts the third-lowest postage rates among developed countries, despite Canada’s exceptionally low population density.

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The Marriner S. Eccles Federal Reserve Board B...

Unlike fellow Mises devotee, Thomas DiLorenzo, who keeps calling the Fed a “national bank” and “government bank,” to obscure the fact that it’s 100% privately owned and operates at a profit for its shareholders, Gary North admitted on March 9, 2011, that the Fed “operates for the benefit of the largest banks.

Instead of calling it a “government bank,” he correctly identifies it as a “government-created cartel of the banks.” Cartels are otherwise illegal, unless they’re government-sanctioned.

Unlike DiLorenzo, who prefers to focus on its limited and exaggerated governmental aspect, North continues to hammer away at the private nature of the Fed, with: “It was deliberately designed in 1910 to deceive the public, who were opposed to the idea of a central bank.

I will add to that, a private central bank, as North goes on to mention that Congress killed two previous private central banks that were a detriment to the American people.

In outlining his plan for abolishing the Fed, he talks about the United States Postal Service. It is an interesting comparison, since the creation of one (the Post Office) is one of Congress’ constitutionally enumerated powers, while the other (the Fed), isn’t.

Previously, I have taken North to task about some of his past statements, but on these ones, I am in full agreement. It is therefore important to judge all statements based on their merits, and not on the person making them.

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This October 9, 2009 article shows a U.S. Customs form with an SDR (Special Drawing Right) value.

This isn’t a recent phenomenon. The use of SDRs by U.S.  federal government institutions goes further back than 2009. According to the United States Postal Service 2003 Annual Report, “The majority of our international accounts are denominated in Special Drawing Rights (SDRs).

According to the IMF Factsheet on SDRs, “The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies (U.S. dollar, Euro, Japanese yen and pound sterling), and SDRs can be exchanged for freely usable currencies.

How much have SDRs benefited the U.S. Postal Service at the expense of the U.S. dollar?

On December 31, 2002, 1 USD = 0.7382 SDR
On October 18, 2009, 1 USD = 0.6280 SDR

There was a 15% decline in the USD from December 31, 2002 to October 18, 2009.

It’s not just the illegal Federal Reserve that’s been undercutting the U.S. dollar. The constitutional U.S. Postal Service and U.S. Customs are also in on the act.

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When someone sent me a link, claiming it was the website of the Federal Reserve, my reaction was one of laughter. It had a .gov domain. But .gov domains are for federal government institutions, and the Federal Reserve is a private bank that, in terms of ownership, is no more federal than Federal Express!

To add to the smokescreen, the United States Postal Service, clearly a federal government institution, has a .com domain.

This, despite the U.S. Constitution explicitly delegating the sole powers to “establish Post Offices” and “To coin Money” to Congress, a branch of the federal government. In a constitutional and sensible world, it would be the Federal Reserve with a .com domain and the USPS with a .gov domain.

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