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~ USA Headed for a 5th Revolution! Why?

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Monthly Archives: March 2018

#288 Crypto-Currency Sent to the Crypt

26 Monday Mar 2018

Posted by Jordan Abel in Benefits of Revolution, Gov't Policy, Societal Issues

≈ Leave a comment

Readers: this blog is set in the future (sometime after the year 2020). Each entry assumes there has been a 5th revolution in the US — the Revenge Revolution. More about the Revenge Revolution and author, Entry #1. List and general description of entries to date.

Note: most entries are formatted as conversations. Characters appear in a number of entries, with many entries building on previous conversations. Profile of characters (see link at top of page). You’ll catch on quickly. Thanks for your time and interest…and comments.

Scene: Jordan’s office, Washington, DC

092615_2031_Characters7.gifGelly: “Jordan, you have a call from a guy named Willie. Want to take it or should I…”

Jordan: “…I’ll take the call. You’ve never met Willie? That’s his nickname. He’s the banker and neighbor in Charlotte.”

Gelly: “Now I know who you mean. Didn’t realize his nickname was Willie.”

Jordan (picking up phone): “Willie, thanks for calling back.”

BankerWillie: “Your voice mail said you wanted to talk about crypto-currency.”

Jordan: “Yes. Need some guidance.”

Willie: “I can help with macro issues but I’m not a technical expert.”

Jordan: “Right now not concerned with the tech side…maybe later. Really want to understand how the Federal government views…or viewed…crypto-currency. What were the perceived implications on policy decisions of crypto-currency?”

Willie: “Where do you want to start?”

Jordan: “First, is crypto-currency considered a real currency or not? From what I gather, crypto-currency is a currency, but not a currency sponsored by a government. You know, it functions like the US dollar or Euro but there’s no government behind it, right?”

Willie: “You got it right. Crypto-currency is a de facto currency created by a non-government entity.”

Abbott CostelloJordan: “In a way, the crypto-currencies remind me of the US prior to the creation of the Federal Reserve. Lots of variation in value and no one quite sure who’s in charge?”

Willie: “Wondering who’s on first is not a bad way to look at it. Crypto-currencies are like a bunch of banks issuing their own currency…except rather than issuing paper notes its digital currency. And rather than backed by gold or silver, it’s backed by what one might term vaporware.”

Jordan: “So, if a bunch of groups issue their own currency, how do you use it? What merchant is going to accept your crypto-currency? The merchant has to get someone else to accept it, otherwise he’s screwed.”

StealingWillie: “Another good question. A lot of the so-called crypto-currencies vanished early on. Some never got any momentum and some were never issued even after investor funds were taken.”

Jordan: “But a couple of the crypto-currencies made it big time. What I still don’t understand is where the value came from? You did say it was like vaporware.”

Willie: “Just thinking about it is somewhat baffling. The most popular crypto-currencies were created out of thin air. OK, the currencies were created using a complex computer algorithm…but essentially out of thin air.”

Jordan: “You mean there was no real value? Zippo…nada…nothing?”

Rabbit Out of HatWillie: “A couple of crypto-currencies were backed by some assets. One was even backed by gold, but most were backed by nothing.”

Jordan: “Who would fall for a scheme like that? Reminds me of the tulip craze in the 17th century. At least for that craze, people bought some asset, albeit a tulip.”

Willie: “Supporters of crypto-currency claimed it was no different from currency issued by governments, so-called FIAT currencies. The FIAT currencies – US dollar, for example – no longer have precious-metal backing. According to these supporters, governments just print money with no underlying value.”

TurtleneckJordan: “While true that governments might have gone off the gold standard, governments do have assets…and a way to generate revenue. Governments can collect taxes. Save one or two, crypto-currencies had no assets and none had authority to collect taxes.”

Willie: “Creators of crypto-currencies claimed value was created because only so many would ever be ‘coined.’ Since the supply of coins was finite, value was created and justified.”

Jordan: “Aside from the illogic that a finite supply of something automatically creates value, what was their view of the real purpose of crypto-currency?”

Willie: “Some will claim my opinion’s biased because I’m in the banking industry. My view crypto-currency was attractive to certain groups for two basic reason: (i) help facilitate illicit transactions, especially drugs; (ii) help avoid taxes.”

Fed Reserve LogoJordan: “Over the years you’ve dealt with the Federal Reserve. How did they view crypto-currency?”

Willie: “At first, crypto-currencies were viewed by the Fed as an annoyance, but not a major issue. Think of a crypto-currency as a mosquito or a gnat.”

Jordan: “Then the mosquito started to grow…like a mosquito on steroids.”

Willie: “You’re right. Once on steroids, the Fed began to look at crypto-currencies as a threat to its control.”

Jordan: “How so?”

Bag of MoneyWillie: “Two primary roles of the Federal Reserve are managing monetary policy and controlling the banking system. The already difficult job of managing monetary policy became much more difficult with the alternative-currency universe.”

Jordan: “So the more crypto-currencies were used instead of dollars…the more crypto-currencies became a larger percentage of the money supply…the more exaggerated the Fed’s actions needed to be to achieve the same desired policy effect. The Fed was dealing with a smaller pie, as it were.”

Wall Street SignWillie: “Most people did not fully appreciate how crypto-currencies forced the Fed’s hand. Crypto-currencies took a bigger and bigger slide out of the Fed’s monetary pie. In order to achieve the same result as before crypto-currencies, the Fed was forced to exaggerate changes in interest rates, both up and down. The exaggeration also affected Wall Street. As a result, the Fed was unhappy, Wall Street was unhappy, many investors were unhappy and the general public was unhappy.”

Jordan: “Anything else?”

Willie: “Two other critical issues. A key reason the Fed was created was to help facilitate trade. Many of the crypto-currencies fluctuated wildly in value, which created uncertainty and slowed trade.”

Jordan: “What’s the second issue?”

TaxesWillie: “Federal revenue. While the Fed is not responsible for collecting taxes, in order to manage monetary policy, the Fed needs to have a good idea of sources and uses of Federal funds.”

Jordan: “Because the flow of crypto-currencies was hard to track and therefore hard to collect taxes on that flow, forecasting Federal revenue became even more uncertain. Right?”

Willie: “You got it. From the Fed’s perspective, and a lot of other people agreed, crypto-currencies were a cancer that was restricting trade, making monetary policy more difficult to manage and reducing potential government revenue. The solution? Ban crypto-currencies. Send crypto-currencies to the crypt. Does that help explain crypto-currencies?”

Jordan: “Yes, very much so. Thanks. Willie, as always, nice to chat. Let’s get together soon.”

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#287 Who Took Out the Donald…Mama Bear?

18 Sunday Mar 2018

Posted by Jordan Abel in Causes of the Revolution, Lessons of Revolution, Stupid Is as Stupid Does

≈ Leave a comment

Readers: this blog is set in the future (sometime after the year 2020). Each entry assumes there has been a 5th revolution in the US — the Revenge Revolution. More about the Revenge Revolution and author, Entry #1. List and general description of entries to date.

Note: most entries are formatted as conversations. Characters appear in a number of entries, with many entries building on previous conversations. Profile of characters (see link at top of page). You’ll catch on quickly. Thanks for your time and interest…and comments.

Scene: Greenie, JC and Jordan having lunch near Jordan’s office in Washington, DC.  Conversation continues from Entry #286.

092615_2031_Characters2.jpgGreenie: “OK, now that we’ve solved the mystery of the creation of the universe, I have another topic.”

Jordan: “Which is?”

Greenie: “Who took out the Donald?”

JC: “We’ve already discussed that and Jordan claims it was the FBI.”

Greenie: “I know we discussed it earlier but when I started to write the articles about how the take out might have affected the Revenge Revolution, I realized we’d never discussed…or I don’t remember ever discussing…what triggered the FBI to take action.”

092615_2031_Characters1.jpgJC: “You mean what event or action by Trump caused the FBI, or whatever group was responsible, to say, ‘enough, already. He needs to go.’”

Greenie: “Well, we know it wasn’t Trump who called and said to the FBI, ‘Gee, why don’t you take me out.’ So, Jordan, was there an event that triggered the take out? You were the first person I know to call the take out. What’s your opinion?”

Jordan: “While there was a time gap between the event and the take out, my view is the event was the weekend when Sessions fired Andrew McCabe. That was sometime early spring 2018.”

JC: “Why that particular event?”

Tilted-scale-hiJordan: “Because by early 2018 it had become clear Trump was in the hands of the Russians…at least financially. They had him by the you know what.”

JC: “But a lot of people suspected Mueller already had evidence of Trump’s financial obligations to the Russians. So, why the firing of McCabe the tipping point?”

Jordan: “Until Mueller subpoenaed Trump’s business records, Trump was either in denial of what seemed obvious to the world or too naïve…”

JC: “…or more likely, too stupid to understand what was going on. After Tillerson got fired, he finally stated publicly what he’d said before. Trump was a moron.”

trump-youre-firedGreenie: “So why did Trump have Sessions fire McCabe? Firing McCabe accomplished nothing. Then Sessions got fired by Trump soon thereafter.”

JC: “Pardon me for being so blunt, but you just answered your own question — why did firing McCabe trigger the take out? Trump thought the firing would discredit McCabe.”

Greenie: “Discredit McCabe with whom? Maybe Trump’s base but at that point Trump’s base no longer counted in the real world. I must say Trump calling McCabe a liar was a bit much even for Trump. Seriously? Trump calling someone a liar and expecting the world to believe him?”

JC: “In Donnie Boy’s world the base was the only thing that mattered.”

Full HouseGreenie: “Do you guys think Trump really understood who held all the cards? In the Washington poker game, Trump didn’t have a pair of deuces and Muller had a full house, yet Trump thought he could bluff Mueller.”

Jordan: “And Muller’s full house included all the FBI agents. Just think about how crazy his behavior was. Trump dumps all over Comey and McCabe and trashes the FBI as an organization. That’s about the same level of stupidity as trying to steal a bear cub while mama bear is watching nearby, not even hiding.”

Mama BearJC: “Pissing off mama bear is not smart. And doing so never has a good outcome.”

Greenie: “So now we have Mama-Bear-FBI watching the Donald trying to steal one of her cubs…actually two, no three of her cubs – Comey, McCabe and Mueller.”

Jordan: “Still wonder why the FBI took out Trump? Actually, I do think there’s a bigger reason. Yes, the FBI was pissed about the Donald trashing the agency and also trying to steal the cubs, but the overarching reason…”

JC: “…the overarching reason was the professionals thought Trump was mentally unstable. Nobody could predict what he would do next.”

FBI LogoGreenie: “Most serious adults in the US…and worldwide…have great admiration for the FBI. I think it’s fairly well-known that when joining the agency you pledge to ‘support and defend the Constitution of the United States against all enemies, foreign and domestic.’ The people who I know connected with the Agency take the pledge very seriously.’ Trump’s behavior violated the pledge and effectively left them no choice.”

JC: “Still baffles me why Trump did not understand the potential consequences of his behavior. It’s not as if you had to be a genius to predict the outcome. Jordan, you predicted it and we know you’re no genius…right?”

TurtleneckJordan: “I’d like to ignore your last comment but you’re correct. Anyone with a modicum of gray matter could have seen what was going to happen when you mess with Mama-Bear FBI.”

Greenie: “Fortunately, the take out and transition were reasonably peaceful.”

Jordan: “For the peaceful transition you can thank the FBI and some of the military-trained adults who’d been in the White House. Those guys knew who to call, when to call and what to tell the remaining staff to do. Lots of good work behind the scenes.”

070715_2218_141SenseChe1.gifGreenie: “Even after the transition from Trump, the country had the Revenge Revolution. Granted a few years later but probably a lot more peaceful that it might have been.”

JC: “You know what? Even though we’ve had the Revenge Revolution and we’re looking backwards, talking about the Trump years exhausts me mentally. Why don’t we go back to discussing an easier topic?”

Greenie: “You mean an easy topic like the creation of the universe?”

Jordan: “While you guys decide on what to chat about, I’m taking a break.”

#286 Diversion: Can We Talk Evolution?

11 Sunday Mar 2018

Posted by Jordan Abel in Diversions, Personal Stories

≈ 1 Comment

Readers: this blog is set in the future (sometime after the year 2020). Each entry assumes there has been a 5th revolution in the US — the Revenge Revolution. More about the Revenge Revolution and author, Entry #1. List and general description of entries to date.

Note: most entries are formatted as conversations. Characters appear in a number of entries, with many entries building on previous conversations. Profile of characters (see link at top of page). You’ll catch on quickly. Thanks for your time and interest…and comments.

Scene: Greenie, JC and Jordan having lunch near Jordan’s office in Washington, DC

Jordan:  “Greenie, glad you could break away for lunch.  You can protect me from your buddy here.”

092615_2031_Characters2.jpgGreenie:  “Now, Jordan.  Yes, it’s nice to see you but when did you need protection?  Has JC been harassing poor little Jordie?”

JC:  “See, Jordan.  You’re far too sensitive…and taking yourself way too seriously.  You need to get out of Washington more often.  You’re starting to act like some of those people in Congress.”

Jordan:  “Alright guys.  Enough kvetching.  What are we going to talk about over lunch?  What about…”

Greenie:  “…excuse me but if you were going to suggest discussing progress on my articles on the Revenge Revolution, please don’t.  I need a break.”

Jordan:  “OK, then what?”

092615_2031_Characters1.jpgJC:  “You want something far out…no pun intended.”

Jordan:  “Such as…and what pun?”

JC:  “Evolution.”

Greenie:  “Since when did you become the scientist?”

JC:  “Think about it?”

Greenie:  “Think about what, Ms. Einstein?”

JC:  “How could species evolve from a bunch of elements?  And how did the universe get started?

albert-einsteinJordan:  “Greenie, maybe Ms. Einstein is on to something.  I’ve never really bought into the Big Bang Theory.  Understand the theory but what I can’t figure out is where did the matter come from?”

JC:  “See, this might be interesting.  Where did all that stuff come from?  Nothing just doesn’t go bang.  Nothing had to be something before it went bang.”

Greenie:  “So, if you need something in order to have it go bang, then who or what provided the something?  Little green men?  ET’s friends?”

StarsJordan:  “Green is not my color.  I like ET’s friends better.  Seriously…if that’s possible with this group…I’ve always been fascinated by the number of stars.  Now after the Hubble telescope, we know there are even more billions of stars and millions, if not billions of galaxies.”

JC:  “And, if you believe in the tooth fairy, out of those billions and billions, earth is the only place where life exists.  Right.  Take another hit on that joint.”

Greenie:  “How does all this link to evolution?”

JC:  “Evolution, at least on earth, may not be so random.  What if we’re a science experiment of one of ET’s buddies?”

Jordan:  “If evolution is part of a science experiment, it explains a lot.”

Greenie:  “How?”

ETJordan:  “We know…let me rephrase that…there appear to be more than three dimensions.  We don’t know exactly how many but let’s say there are five dimensions.”

JC:  “So ET’s buddies could be operating in all five dimensions while we’re operating only in three.  And…”

Greenie:  “…Let me try.  We know time is relative.  A billion years to us might be 10 years to ET.  Like a gnat’s life is three days by our standards but maybe 100 years by gnat standards.”

Jordan:  “Keep going.”

Petri DishGreenie:  “One of ET’s buddies has this experiment.  And as part of that experiment there is a giant petri dish called earth.  ET’s buddy puts of few drops of something in the dish and things start to grow.”

JC:  “After a while some of the amoebas get bigger and eat other amoebas.  Over more time other amoebas take on different shapes and new flavors of amoebas evolve.”

Jordan:  “After who knows how long, the “generic man” amoeba evolves.”

Greenie:  “All this seems sort of weird, doesn’t it?  We’re an experiment in ET’s buddy’s petri dish.”

JC:  “Weird, yes, but have you got a better explanation?  Plus, who’s going believe this idea anyway?”

TurtleneckJordan:  “Does it really matter who believes it?  Probably not.  However, more people might be closer to believing it than we think.  I find it very interesting that when you look at the core beliefs of a bunch of different religions, there always seems to be some ‘super-power’ of sorts at the top.”

JC:  “And a belief in that ‘super-power’ makes life less complicated, right?”

Jordan:  “Yes, it seems to.”

JC:  “By the way, Jordan does this mean you’ve given up religion for a petri dish?  Next time we have lunch are you going to order a BLT?”

Jordan:  “You’re funny, JC.  No, religion is still very important. At a very minimum it provides great guidelines and boundaries.  And no BLT, unless its turkey bacon.”

Greenie:  “Whew, beginning to wonder about you, too.   C’mon, you really like turkey bacon?”

(End of discussion on evolution…at least for now.)    

 

 

#285 Why Is Banning Assault Weapons a 2nd Amendment Issue?

04 Sunday Mar 2018

Posted by Jordan Abel in Common Sense Policies, Gov't Policy, Societal Issues

≈ Leave a comment

Readers: this blog is set in the future (sometime after the year 2020). Each entry assumes there has been a 5th revolution in the US — the Revenge Revolution. More about the Revenge Revolution and author, Entry #1. List and general description of entries to date.

Note: most entries are formatted as conversations. Characters appear in a number of entries, with many entries building on previous conversations. Profile of characters (see link at top of page). You’ll catch on quickly. Thanks for your time and interest…and comments.

Scene: JC and Jordan ordering coffee at shop near Jordan’s office in Washington.

Clerk to Jordan: “Hi Bubbles, the usual?”

Jordan:  “Yes, please.  And JC, what do you want?”

092615_2031_Characters1.jpgJC:  “Grande, medium roast.”

——– Have coffee and find table —————-

JC:  “OK, you’ve got to tell me.  Where’d the name ‘Bubbles’ come from?  You leading some kind of secret life none of us know about?”

Jordan:  “Nothing that exciting.  When I started coming here regularly, I asked them to top off the coffee…since I don’t take cream.  One day when they put on the lid, some bubbles oozed out of the drink hole and onto the lid.”

Coffee cup and lidJC:  “And, so what?”

Jordan:  “That’s what I said, ‘So what?’  But apparently some customers are very picky and ask for a new lid if any bubbles ooze out.”

JC:  “So you, poking fun at those who take themselves too seriously, begin asking for bubbles, right?”

Jordan:  “And, voila, I became known as ‘Bubbles.’”

JC:  “Well, Bubbles, I think we’re going to have company.  An old friend of yours.”

Jordan:  “Hi, Sandy.  Long time, no see.  Have a seat, if you want.”

092615_2031_Characters8.gifSandy:  “Hi, Jordan.  If I recall, it’s JC, right?”

JC:  “Yes.”

Sandy:  “I really shouldn’t sit with you, Jordan.  I’m still mad at you.”

Jordan:  “For what?”

Sandy:  “Your efforts to overturn the 2nd Amendment and take away all our guns.”

Jordan:  “C’mon, Sandy, I never supported overturning the 2nd Amendment.”

AR-15Sandy:  “Sure you did.  You wanted to ban the sale of all assault weapons…and even make owning one illegal.”

JC:  “Excuse me, but you please help me understand something?”

Sandy:  “What would you like to understand?”

JC:  “How a ban on owning an assault weapon affecst rights under the 2nd Amendment?  I’m missing the link.”

Sandy:  “Because the ban was the first step toward a total ban on owning any weapons…and another major step toward a socialist state.”

JC:  “Sandy, let’s be serious, please.  No more NRA hype.  Remember there’s been a Revenge Revolution and the US political landscape is different now.”

Sandy:  “But you don’t understand.”

ComplicatedJC:  “You’re right.  I don’t understand.  The assault ban still allowed ownership of all kinds of hunting rifles, shotguns, pistols.  I’m not a hunter but why would you need an assault rifle to kill a deer?  Where’s the sport in that?  Maybe we should arm the deer.  That would make it more fun.”

Jordan:  “She’s right…well, maybe not about giving guns to the deer.  From your perspective, what was the real issue?  No civilian needs an AR-15.”

Sandy:  “Need assault rifles for protection.  That was the issue.”

Jordan:  “Protection from what?  You and I both know there’s no ad hoc civilian group, no matter how well armed, that has any chance against the military.  So really, what’s the heartache over the ban?”

School

Sandy:  “Well, you didn’t support protecting schools by arming teachers either.  Don’t you like kids?”

JC:  “Oh, Sandy, Sandy, please.  You don’t need to pretend to be a talking head on Fox or a politician who changes the subject and tries to blame someone else when he can’t answer the question.  What was the real issue?”

Jordan:  “Let’s take your comment about wanting to arm teachers…and even putting barricades around schools.”

Sandy:  “Good.  Now you’re talking some sense.”

Jordan:  “Tell me, what would either arming teachers or fortifying schools prevent?”

Sandy:  “Mass killings at schools.  Protecting our kids.  Why don’t you like kids?”

JC:  “He likes kids.  I need to understand what’s going to stop a shooter from hiding across the street from the school?  Or even sitting in the car and then shooting a bunch of kids when school lets out?”

Jordan:  “The shooter could also just fire a few rounds, blow out a window and then have a whole classroom of targets.”

JC:  “Jordan, that’s gross.”

Jordan:  “Gross, yes, but anyone with some infantry training in the military…and Sandy has more experience than I have…knows how to take out a bunch of people quickly, especially with an assault rifle.”

Sandy:  “Are you saying there’s no way to protect these school kids?”

Jordan:  “What I’m saying is a mass killing is much easier with an assault weapon.  And that’s the reason I opposed any ownership of assault weapons outside the military.”

Sandy:  “The ban won’t stop killing.”

JC:  “Oh boys.  Sandy, I think everyone agrees that the ban is not a silver bullet, as it were.  Some mass killings will continue to happen as long as there are so many guns around.”

Seat beltsSandy:  “So why have a ban on owning assault weapons?”

JC:  “To help reduce the number of killings.  Here’s a comparison.  Mandating seat belts and air bags in cars and trucks didn’t eliminate some people dying in wrecks.  But as a result of the mandate, there have been far fewer deaths.  Got it?”

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