Ron Paul’s entire speech covering numerous points and is, once again, right on the money. (more…)
Bob Chapman, 6.17.2011: Greece, Depression, Global Government, And Telling The Bankers To Take A Hike
Bob Chapman on the Alex Jones show, 6.17.2011, speaking about the coming collapse due to Europe’s ‘Lehman’ moment with the economic turmoil that Greece’s economy is creating in the eurozone, how Goldman Sachs and JP Morgan Chase have been going in and out of Greece bidding for infrastructure, and how the Bilderbergers are now on the run after the protests in St Moritz last week. (more…)
Gerald Celente (completely wound up) on the Jeff Rense show, 6.15.2011, speaking about the latest ‘Trend Alert’ they have issued: “Collapse, Are You Ready? It’s Coming”. Mr. Celente speaks about the 48% of the population that thinks we are trending toward the depression we are already in, how we have lost our self respect, how the police aren’t there to protect us, and how we better be ready to fight to make it through what is coming. Mr. Rense also plays a George Carlin clip (starting at 13:30) explaining why our country is so screwed up and why it won’t ever be fixed; you guessed it; we are all corporate owned moos being bled dry… (more…)
Alex Jones interviewing Catherine Austin Fitts on the economy, the upcoming ground invasion of Libya, and what we as Americans can do to protect ourselves from the collapse of a ‘terribly perverted’ system. Catherine also states that though the Bilderberg group meeting was important, for us folks in North America, the upcoming Bohemian Grove meeting during the end of July will be much more crucial, including any decisions made on the debt ceiling and the upcoming budget. (more…)
We have now officially entered the ‘end of the beginning’ of the Greatest Depression the world has ever seen. If corporate-owned moos have not owned the reality of the coming depression and taken steps to protect themselves and their families and communities; I have one thing to say…
Everything is fine…go back to sleep….nothing to see here….move along. (more…)
If there was ever any doubt in your mind as to whether Mitt Romney is the aristocracy’s pick to replace Obama, try this on for size.
Mitt Romney: “I’m Not Going To Focus On The Fed”
“I think Ben Bernanke is a student of monetary policy; he’s doing as good a job as he thinks he can do,” Romney said when Kudlow asked what kind of job Bernanke is doing. “I’m not going to spend my time going after Ben Bernanke. I’m not going to spend my time focusing on the Federal Reserve.”
We already know why auditing and abolishing the Fed is so important; but what does this say about Romney? Too power-hungry or too dangerously stupid to serve? Has he not been paying attention?
From Matt Taibbi of Rolling Stone:
Now, following an act of Congress that has forced the Fed to open its books from the bailout era, this unofficial budget is for the first time becoming at least partially a matter of public record. Staffers in the Senate and the House, whose queries about Fed spending have been rebuffed for nearly a century, are now poring over 21,000 transactions and discovering a host of outrages and lunacies in the “other” budget. It is as though someone sat down and made a list of every individual on earth who actually did not need emergency financial assistance from the United States government, and then handed them the keys to the public treasure. The Fed sent billions in bailout aid to banks in places like Mexico, Bahrain and Bavaria, billions more to a spate of Japanese car companies, more than $2 trillion in loans each to Citigroup and Morgan Stanley, and billions more to a string of lesser millionaires and billionaires with Cayman Islands addresses. “Our jaws are literally dropping as we’re reading this,” says Warren Gunnels, an aide to Sen. Bernie Sanders of Vermont. “Every one of these transactions is outrageous.”
(H/T The Economic Collapse)
Here is what you can do.
The first nationally televised Republican presidential debate in the 2012 election cycle will be held on May 5, 2011 on Fox News. Because of this, it is imperative to showcase Ron Paul as the leading frontrunner in the race. On May 5, 2011, we will hold an online money bomb in support of Ron Paul for President 2012. A money bomb is a 24-hour fundraising event aimed at dramatically increasing funds for a specific candidate. In November 2007, Ron Paul raised more than $4.2 million in a single day. In December 2007, Ron Paul raised the most money in the history of American politics in a single day, raising more than $6 million; a record that still holds strong to this very day.
Please invite your friends, and tell them that it is essential that we all donate to Ron Paul on May 5, 2011, in preparation for the first nationally televised Republican presidential debate for 2012.
Ron Paul’s run in 2008:
Moderator: If you were president, would you work to phase out the IRS?
Ron Paul: Immediately. And you can only do that if you change our ideas about what the role of government ought to be. If you think that government has to take care of us from cradle to grave, and if you think our government should police the world, and spend hundreds of billions of dollars on a foreign policy that we cannot manage; you can’t get rid of the IRS, but if you want to lower taxes and if you want the government to quit printing the money to come up with the shortfall causing all the inflation, you have to change policy.
If by the end of 2010 the federal government continues ad hoc public spending programs to create jobs, the United States will find itself deeper in debt, less able to repay it, and no more competitive on the world stage than before, in fact likely less so. – Eric Janszen
I have finished ‘Aftershock‘ and am now re-reading Eric Janszen’s
The Postcatastrophe Economy: Rebuilding America and Avoiding the Next Bubble.
Although I agree with ‘Aftershock’ authors’ analysis of a multiple bubble economy popping and putting pressure on lateral bubbles causing them to break and drag the economy farther down, I do disagree with their assessment that there will not be violent civil unrest in the streets. Wisconsin is only a prelude to what will happen when the US dollar collapses and ‘Peggy the Moocher’ finally figures out that there isn’t free ride. Please Google ‘Rodney King’ and ‘OJ Simpson Trial’.
On the other hand, Mr. Janszen’s theory of two totally separate economies, the FIRE economy (Finance, Insurance and Real Estate) based on debt and interest, and the real productive economy we live in is much more spot on in it’s analysis. The FIRE economy is collapsing and the productive economy is being sucked dry by the government to prop it up.
A small excerpt protected by the Fair Use clause of the US Code:
The FIRE economy, which was based on financial engineering, capital gains from inflated asset prices, and other nonproductive financial schemes and tended for decades by special interests, grew to great heights and shaded a once vibrant economy below, an economy based on production, savings and investment.
The FIRE economy also depended on a steady stream of cheap credit and oil, for without it credit-financed consumer spending cannot rise; purchasing power would be sapped by household expenditures on heating fuel and gasoline, and by borrowing at high rates of interest. The solution was to inflate the purchasing power of the U.S. dollar, the currency used for oil trade by the United States and its trade partners, depreciating the price of oil in the process, and to tap into our trade partners’ so-called excess savings.
The FIRE economy is an umbrella term that incorporates the whole dysfunction of the American political economy that has resulted in FIRE industries capturing our government. The same dysfunctional system also produced, among others:
- the military-industrial complex that heavily influences foreign policy;
- the credit-industrial complex that layers economic rents, such a interest payments and fees, on every economic activity, from education to health care, and punishes savers with taxes and rewards debtors with tax deductions;
Those are just two of a long list of special interests that control our government, and I highly urge my readers to get this book from the library and read it as it gives some valid proposals for getting the productive economy back on it’s feet and the FIRE economy where it belongs; a supporting role instead of sapping every single iota of lifeforce out of this country.
I will be posting a longer article on both of these books and the GOP’s attempt to get people used to the idea of austerity with trillions of dollars of spending cuts in order to keep the US dollar alive and the FIRE economy with it. Don’t get me wrong, $21 billion, $33 billion, $61 billion AIN’T ENOUGH when a trillion is 1000 billion. My thinking is going way beyond spending cuts to how we, as a people, disentangle ourselves from the Fed, the government, and the FIRE economy in such a way that does not create paupers of us all.
(H/T MT for the book.)
Paul Ryan understands the financial tsunami that is about to hit us. I’m just not sure his proposal is going to achieve the best results for the time, effort, and money invested. More on that later also.
Paul Ryan – Years of Empty Promises
In 2009, the Federal Reserve made a record $52.1 billion; a 47% increase over 2008. They just reamed us again, and don’t even think to tell me that the current $79.3 billion being turned over to the treasury allows any reprieve. Those billions in profit they made were INTEREST ON LOANS…and our government is HOW FAR IN DEBT because of the Federal Reserve ‘Credit Card’, and who do you really think is paying all that interest in the end? Yep; the producers of the nation.
By Peter Schroeder – 03/22/11 12:12 PM ET
The Federal Reserve turned a record $81.7 billion profit in 2010, up 53 percent from 2009, the central bank reported Tuesday.
The vast majority of the Fed’s profit — $79.3 billion — will be turned over to the Treasury Department, with the rest being paid out to member banks in dividends.
A substantial chunk of that profit came from increased interest income from the $1 trillion in mortgage-backed securities the Fed purchased during the financial crisis to help stabilize the housing market. The Fed made $24.4 billion more in interest on those holdings in 2010. The central bank also made $3.5 billion in interest from its increased holdings in Treasury bonds, as it buys up Treasury debt in an effort to boost private lending.
While the Fed is still reaping profits from its intervention into the financial system during the crisis, it is beginning to wind down other areas where it had stepped in. Loans given to insurance giant American International Group, Inc. (AIG) declined slightly in 2010 to $20.6 billion, from $21.3 billion in 2009. As a result, the Fed made roughly $1 billion less in interest on those loans.
For those that still don’t know about the round-robin of looting, moving, and stealing your hard earned cash, here is a simple explanation of the Federal Reserve:
Most Americans believe that the Federal Reserve is part of the government. They are wrong. It is a privately held corporation owned by stockholders. The Federal Reserve System is owned by the largest banks in the United States. There are Class A, B, and C shareholders. The owner banks and their shares in the Federal Reserve are a secret. Why is this a secret? It is likely that the biggest banks in the country are the major shareholders. Does this explain why Citicorp (C), Bank of America (BAC) and JP Morgan (JPM), despite being insolvent, are being propped up by Ben Bernanke and Timothy Geithner?
The history of National Banks in the United States has been controversial since the Founding Fathers signed the Declaration of Independence. The Constitution of the United States unequivocally states that only Congress has the authority to coin money, not an independent bank owned by unknown bankers.
Remember this from 1.12.2010?
I and many other people keep screaming that the private banking cartel known as the Federal Reserve System is an absolute insanity hoisted on us by robber-barons and progressives at the beginning of the 20th century. Think about it, a private bank prints our money, loans it to us, and then charges us insane amounts of interest. How freakin’ crazy is that? I could have sworn that a Founding Father or two were completely against the idea of a central bank…
Now that same private banking cartel just made a record profit last year on the backs of Americans due to a collapsing banking industry because of a housing market bubble they allowed to grow. Are You Ready To Abolish The Fed? I know what it means to get rid of the central bank, but do you? No more credit card for the government.
WHAT IS IT GOING TO TAKE TO STOP BUYING THEIR PRODUCT?
UN-FRAKKIN’-BELIEVABLE! ONE CAN DREAM HARRY!
I believe the tea party is short lived. I think you will find, even people that claim they are tea party folks, will either be gone as a result of their extreme positions or they will move to the more moderate position, which is certainly not being a liberal, that is being a conservative. I think with the economy getting better, you are going to see less and less agitation from the tea party folks. – Harry Reid
Are frakkin’ Nevadans out of their minds? They re-elected this sub-human darksider who continues to spew the exact opposite of reality to keep the corporate owned moos in the chute.
No, Harry Reid is not stupid enough to believe:
- The tea party is going away,
- The economy is recovering,
- That we will see less agitation as prices based on food and energy skyrocket,
- That tea party patriots are going to move to a more moderate position,
- That Constitutionalists are doing anything but preparing for the financial collapse and the chaos that will ensue from the 20% of the population that actually does believe Harry’s bullshit and has absolutely no clue how to take care of themselves.
Would you agree that Allen West and Rand Paul probably laughed their asses off when they heard that comment?
(Editor’s Note: I’ve been an independent voter for some three decades, and have watched as progressive president after progressive president has led this country down the garden path to global integration. Today, I fear for my country’s future as I have not ever feared.)
In 1944, 730 delegates from 44 Allied Nations sat down in a posh hotel in Bretton Woods, New Hampshire and hammered out a global financial policy that maintained fixed exchange rates linked to the US dollar and a promise that America would keep gold at $35 an ounce. The International Monetary Fund and the predecessor to the World Bank were both established at this conference being lead by Harry Dexter White (Treasury Official, CFR member, and accused soviet spy) and John Maynard Keynes (yes, that british economist, born in 1883, who thought the government should be deeply involved in the private sector). As the global economy grew, more reserves and liquidity were required until in 1971, Richard Nixon took America off the gold standard (which was backing the US dollar as a reserve currency), and America’s currency became entirely fiat with only a federally backed promise. The Bretton Woods agreement ended and floating exchange rates were used as a replacement.
Now for the scary part.
Recently, I received a link to an article about George Soros funding a second Bretton Woods conference of economists and globalist bankers on April 8th through the 11th at the same posh hotel in New Hampshire. This conference is being sponsored by a Soros moneychild named the Institute for New Economic Thinking which was started with a $50 million pledge from the globalist himself after conversations with Anatole Kaletsky, former Economic Editor of UK’s The Times. Mr. Kaletsky is commonly punked by satiracal UK magazine, Private Eye, because of his faulty economic predictions. You may experience the same cold shivers I experienced when you check out the advisory board for this particular think-tank including but not limited to a faculty member of the New School for Social Research (remember those folks promoting seizure of your 401(k)?), and one of our favs, Drummond Pike, founder of the Tides Foundation.