By:
Devvy
June 19, 2008
� 2008 - NewsWithViews.com
The American people continue to suffer the failed policies of Congress and sitting presidents. There can be no clinging to the illusion any longer that the economy is merely "soft." The financial picture for most Americans continues to be bleak with no end in sight. As Dominic Frisby said in a recent column, "Central bankers can't talk down inflation." Eighteen years ago, I fell into the issue of the privately owned Federal Reserve Banking System and my journey began. I educated myself about inflation, fiat currency, what happens when the dollar falls, why gold goes up. Oh, yeah, it can be dry and it can be confusing, but without knowledge, we can't solve problems. Here's one example: How many Americans know anything about derivatives? Oh, boy, this one is a killer:
Total Notional Value Of Derivatives Outstanding Surpasses One Quadrillion. "This means that no OTC derivative house can be allowed to go broke. This means that whatever funds are required to rescue failing international investment banks, banks and financial entities will be provided. Keep this economic law in mind. Monetary inflation proceeds price inflation and is its primary cause in economic history from Rome to present. Nothing can stop the juggernaut of price inflation heading towards every nation like a runaway freight train down a mountain." Jim Sinclair would know he because he's an expert in this field and he's always on target.
How many of the 170 million adult aged Americans in this country understand our monetary system, fiat currency and the federal income tax scheme? Ten, twenty million, tops? Right now, many millions continue juggling credit and too little cash to put food on the table and gas in the tank. Little do they know what is still to come: the equivalent of a Category 5 hurricane:
June
4, 2008. Staring Into The Abyss With Wide Open Eyes: "Millions
must have seen this report. The presidential candidates had nothing
to say. The White House had nothing to say. Congress had nothing to
say. Economically, this much is certain. The debt is unpayable, even
if Americans who still have any are stripped of all their assets to
pay for it."
June 8, 2008.
Credit crisis expands, hitting all kinds of consumer loans
June
12, 2008. "When Bush invaded Iraq in 2003, the average price
of oil that year was about $27 per barrel, or about $31 in inflation
adjusted 2007 dollars. The price rose another $10 in 2004 to an average
annual price of $42 (in 2007 dollars), another $12 in 2005, $7 in 2006,
and $4 in 2007 to $65. But in the last few months the price has more
than doubled to about $135. It is difficult to explain a $70 jump in
price in terms other than speculation...Of course, Americans don't get
real inflation numbers from their government and have not since the
Consumer Price Index was rigged during the Clinton administration to
hold down Social Security payments by denying retirees their full cost
of living adjustments."
June
10, 2008. Mortgage Delinquencies Rise Nearly 62 Percent in First
Quarter
June
13, 2008. Biggest Inflation Jump in 6 Months
June
13, 2008. Foreclosures Rise 48% in May as Repossessions Double.
"One in every 483 U.S. households either lost the home
to foreclosure, received a default notice or was warned of a pending
auction, RealtyTrac said. That was the highest rate since the
Irvine, California-based company began reporting in January 2005 and
the 29th consecutive month of year-over-year increases." Do people
realize what this does to the local economy and how it affects the ability
of someone to save for their golden years so they won't be a burden
on society?
36 Retail Stores Closing Their Doors
Credit Default Swaps The Next Crisis. Sub Prime is Just 'Vorspeise'. "While attention has been focussed on the relatively tiny U.S. "sub-prime" home mortgage default crisis as the center of the current financial and credit crisis impacting the Anglo-Saxon banking world, a far larger problem is now coming into focus. Sub-prime or high-risk Collateralized Mortgage Obligations, CMOs as they are called, are only the tip of a colossal iceberg of dodgy credits which are beginning to go sour. The next crisis is already beginning in the $62 TRILLION market for Credit Default Swaps. You never heard of them? It's time to take a look, then.
June 6, 2008. Pet owners fear tough economic choices. Franklin, Massachusetts (AP) -- "Diana Bardsley wiped tears from her eyes as she recalled taking food off her plate to feed her beloved spaniel Hunter and two Siamese cats. Doreen Kazijian said she delayed buying her own medication so she could afford to treat her cats' ailments. Her greatest fear: that she could be forced to surrender the animals as she struggled to stretch her food stamps and Social Security income to meet the escalating cost of living."
January 30, 2008. Pets Abandoned by Owners After Foreclosure. "The house was ravaged -- its floors ripped, walls busted and lights smashed by owners who trashed their home before a bank foreclosed on it. Hidden in the wreckage was an abandoned member of the family: a starving pit bull. The dog found by workers was too far gone to save -- another example of how pets are becoming the newest victims of the nation's mortgage crisis as homeowners leave animals behind when they can no longer afford their property.
I feel very bad for Americans who have lost their homes and the millions more who will over the next year or two. Sadly, millions bought into mortgages they should never have qualified for and are now paying the price of a contract between them and the lender, not between them and Congress. While that body of fools continue their attempt to divert the people's attention away from THEIR massive failures (blame the oil companies) and the banking system, the same hypocrites have benefited from disaster: June 14 (Bloomberg) -- "Senator Kent Conrad said he was given preferential treatment on a mortgage from Countrywide Financial Corp. and will write a $10,500 check to charity." How big of him. Had he not got caught, there would be no check to charity. Let's not forget how many of these crooks in Congress (and the ones who have jumped ship the past few years) are raking in the bucks from the sweat of your labor via earmarks. Let's not forget the 151 members of the U.S. Congress who directly profit from these grotesque, unconstitutional "wars of liberation" over in Iraq and Afghanistan:
"Who profits from the Iraq war? More than a quarter of senators and congressmen have invested at least $196 million of their own money in companies doing business with the Department of Defense (DoD) that profit from the death and destruction in Iraq. According to the latest reports, 151 members of Congress invested close to a quarter-billion in companies that received defense contracts of at least $5 million in 2006. These companies got more than $275.6 billion from the government in 2006, or $755 million per day, according to FedSpending.org, a web site of the watchdog group OMBWatch." The rest of the column with all the numbers and names of these thieves can be found here.
Their profits are stolen from you, from your labor every day via the federal income tax. Because there is NO money in the U.S. Treasury, the trillion dollars blown over in the Middle East has to be borrowed from the banking cartel. You, me, our children and grand children, little better than oxen to the yoke, are forced to pay the massive interest so these crooks in Congress can continue to borrow "money" for their wars from which they profit. Because there is no more bling to scratch from the weary American worker to pay for their folly and endless wars, where will the voracious appetite for money by Congress come from? More our of debt sold off to our enemies like Communist China?
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One of the most dangerous ideas thrown out there (besides Richard C. Cook) comes from William Glynn, the founder and Managing Director of Collective IQ, ranked the #1 Corporate Venture Capital Platform in the world:
"Right now, China, Russia, India and Saudi Arabia basically own the United States. Our economy is the real target of terrorists and this is our potential downfall," says Glynn. His solution is transparent and uncomplicated... a 10% solution. "If we are to prevent another Great Depression we need to pass one simple law: All pension plans, endowments, 401(k)s and the like will be required to allocate 10% of their portfolios to buy back U.S. debt and currency."
"Right
now, China, Russia, India and Saudi Arabia basically own the United
States. Our economy is the real target of terrorists and this is our
potential downfall
With more than 40 trillion dollars currently invested in these types
of accounts, Glynn asserts that some four trillion dollars could be
freed up in a matter of days to wipe out the national debt, buy back
the $1.6 trillion in U.S. debt currently owned by China and more. He
suggests that approximately one trillion dollars go into a 10-year Zero
Coupon Bond with the proceeds ultimately going back to the endowments
and pension plans. "Rather than seeing this as simply giving money
back to the government, it's really a 10-year interest-free loan that
has incredible benefits," he explains."
Andy Jackson would have taken Mr. Glynn to the nearest oak tree. Americans had better pray the looters in Congress don't pick up on this lunacy: Steal 10% of your 401(k) to pay down the "national debt" to the banking cartel for the massive fraud Congress has perpetrated on us? Is he that naive to think these buzzards in Congress would ever stick to the game plan? Oh, please. All you would be doing is handing them a new credit card. Don't look to Comrade Barack Hussein Obama to cure this hemorrhaging. He has never so much as whispered the real and only solutions to our monetary and banking crisis and neither did Comrade Hillary Clinton during her 17 month ego trip. Just where in the U.S. Constitution does it give Congress the authority to steal the fruits of your labor to give to others for any reason? Congressman Davy Crockett said it best; click here.
Juan McCain by his own admission: ‘The Issue Of Economics Is Not Something I've Understood As Well As I Should’ is completely unqualified to sign spending bills and legislation dealing with our monetary system. Those committed to the Obama-McCain Titanic should get their affairs in order because they have sealed their fate.
Inflation is killing the middle class and the poor. As my friend, constitutional attorney and expert on fiat currency, Larry Becraft, recently said, "When hyper-inflation hits and gold is one million dollars an ounce, no one will part with their gold." This short, concise column by Derry Brownfield will give you a good understanding of what Larry means: Silver, Gold and the IRS. Federal Reserve Chairman Bernanke says: "Risk of 'Substantial Downturn' Lessens, Vows Inflation Fight." Old Ben's had his head stuck in rectal darkness for so long, he couldn't tell you how to solve a ten piece puzzle much less "fight inflation." Inflation and deflation is caused by his central bank. It is the cancer eating this nation alive. The power brokers controlling our lives know they've screwed things up royally, now it's time for the solution! NY Fed chief in push for global bank framework. This is another gigantic step in cementing one world government and enslaving all of us under foreign dictatorship.
Back to the original question: Will you out live your money? If we don't get rid of as many incumbents in Congress as possible and put a man in the White House who knows the central bank and monetary issue and who will appoint brilliant individuals like Dr. Edwin Vieira as Secretary of the Treasury, no amount of hand wringing by these deceivers in Congress is going to return America to a prosperous nation. We will only continue to sink further into national poverty and yes, TENS of MILLIONS of Americans will find they have nothing but social security and perhaps a small pension to eke out their "golden years," while the fat cats in Congress enjoy their millions from the sweat off your back.
Have people forgotten what happened to our fellow Americans who worked for ENRON? Everything they worked for all their lives, poof! Gone. Americans seem oblivious to the fact that these crooks and just plain ignorant members of Congress are playing with their future. Look at where we are now and while I wish I could say different, it is going to get much worse.
Do Americans have any idea the numbers we're talking here when tens of millions of Americans out live their money and must depend on the state for food, lodging and medical treatment? Too many Americans have forgotten what I was taught by my parents who were taught by theirs (they all lived through the manufactured "Great Depression): Save for a rainy day. Save for your old age. Don't spend more than you make. Tens of millions are guilty of this and they don't seem to give a damn, but they will.
Those who do know their personal obligations for their golden years can't get ahead because we are being raped by the federal and state governments to pay for their complete and total mismanagement of our money and lives. People send me email all the time asking me, when will people wake up? When will the reality and the numbers finally sink in? My reply: hungry bellies make for angry mobs. Wait until the grocery stores have little to choose from and people still don't have enough coin to purchase that loaf of bread because diesel is $5.75/gallon and the truckers have to pass along the cost to the consumer. Is it any wonder so many incumbents in Congress are taking their ill gotten gains and will not seek reelection? (5 Democrats, 27 Republicans as of February 10, 2008.) Rats jumping ship.
If you would like to learn more about gold and why it is imperative you own some, you might check out El Dorado Gold's web site. They have a substantial amount of educational information to help better understand the issue of gold.
Change
cannot and will not happen with the same players. Congress has refused
to abolish the central bank, get rid of the unnecessary federal income
tax and take swift, decisive action on other issues like withholding
and a sane energy policy. These same players (with the exception of
Congressman Ron Paul) will NOT do it next January because they didn't
do it last January or the ten January's before that. The solutions have
always been there, but until you put individuals in office who fully
understand the U.S. Constitution (or State Constitution for your legislature),
things will remain the same. Is that what you want?
Educational Links:
1
- How
HUD Mortgage Policy Fed The Crisis
2 - Clueless:
Bernanke Blames Saving Glut For Housing Bubble
3 - Long
View: Fall in US house prices heralds problems for all
4 - Economist
challenges government data
5 - Pelosi & her Brassiere
Brigade
6 - Minimum Wage and Fascism
7 - How to Create Jobs and
Cut Medical Care Costs
8 - The
Next Big Spending Spree
Comrade Obama
1
- Hike
Social Security tax, says Obama
2 - Obama
Would Tax Wealthy to Pay for Universal Health Care (how very communist
of him)
3 - Obama's
Energy Stance as Capricious as the Wind
4 - Hike
Social Security tax, says Obama
5 - Obama
Funder Soros Is Bush War Profiteer
6 - Obama
wants higher payroll tax on incomes above $250,000
Juan McCain
1
- Foreclosure
Phil
2 - McCain,
Obama Trade Fire on Tax Plans
3 - McCain
Lies About Social Security Privatization
4 - McCain
promises billions in spending
5 - McCain
temper boiled over in '92 tirade, called wife a 'c**t'
6 - The
wife U.S. Republican John McCain callously left behind
Truth and solutions
1
- March
17, 2005: Are Monetary & Banking Crises Inevitable
in the Near Future?
2 - March
21, 2005. Will The Coming Monetary Crisis Provide Opportunity For
Reform?
3 - 6:06
video: Ron Paul grills Bernanke on monetary deception
4 - The
Federal Reserve Monopoly Over Money
5 - The
Federal Reserve System: A Fatal Parasite on the American Body Politic
6 - Short
treatise: A Caveat Against Injustice, written in 1752 by Roger Sherman,
author of Art. 1, § 10, cl. 1, of the U.S. Constitution
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