- The MSM propaganda machine is preparing the sheeple for the coming attack on Iran. This will no doubt trigger a greater Middle East war. The ruling elite wants to control all the oil in the world. Information Clearing House reports :
September 01, 2009 ” Jerusalem Post” — Mohamed ElBaradei, outgoing chief of the International Atomic Energy Agency, has called the Iranian threat “hyped,” saying there is no proof the Islamic republic will soon have nuclear weapons.
“In many ways, I think the threat has been hyped,” ElBaradei told the Bulletin of the Atomic Scientists in an interview released Tuesday.
“Yes, there’s concern about Iran’s future intentions and Iran needs to be more transparent with the IAEA and international community,” he told the Chicago-based magazine. “But the idea that we’ll wake up tomorrow and Iran will have a nuclear weapon is an idea that isn’t supported by the facts as we have seen them so far.”
“About Iran, I’ve been told, ‘Mind your own business; you’re a technician.’ And yet, at other times, on other matters, I have been told that I’m the custodian of the nuclear Non-Proliferation Treaty – sometimes by the very people who tell me to mind my own business when it comes to Iran,” he continued.
- The good professor’s prognostication is not as ridiculous as it sounds. When it happens, the sheeple will be totally shocked and stunned. All the signs and symptoms of the end of empire are clearly visible. The outright fraud, descent into immorality, lies to drive the sheeple into unnecessary wars, blatant disregard for rule of law and life of others, torture sanctions, profligate borrowing and spending, massive denials, make belief/propaganda MSM and rising fascism, are all apparent.
- What is not so apparent to most is that economic depression usually leads to war. Corrupt governments in the past have staged false flag attacks to deflect and disguise the problems they caused to rally the masses to an engineered crisis and goto war. The usual blame it on someone else for your problems. The favorite whipping boy at the moment is Muslim terrorists. I suspect it will be Iran, Syria, North Korea, Myanmar, Lebanon.. the axis of evil the propaganda MSM has been promoting. Keep in mind that in the first year of a new president there is always an engineered crisis (9/11 clearly was one). 9 Sept 2009 is just a week away. This is an occult date: 09/09/09. Turning it upside down gives you three 6s: 60/60/60. Will there be a false flag attack?
- Paul Joseph Watson writes :
Russian Professor Igor Panarin says that events are continuing to confirm his doomsday prediction first made over 10 years ago, that the United States will completely collapse like the Soviet Union before the end of 2010, and warns that the chaos could begin to unfold in as little as two months.
Panarin, doctor of political sciences and professor of the Russian Diplomatic Academy Ministry of Foreign Affairs, told journalists during the unveiling of his new book yesterday that President Obama has done nothing to forestall the fast approaching crisis and that it could begin to properly unfold in November.
“Obama is “the president of hope”, but in a year there won’t be any hope,” said Panarin. “He’s practically another Gorbachev – he likes to talk but hasn’t really managed to do anything. Gorbachev at least had been a secretary of a regional communist party administration, whereas Obama was just a social worker. His mentality is totally different. He’s a nice person and talks nicely – but he’s not a leader and will take America to a crash. When Americans understand that – it will be like a bomb explosion.”
Since 1998, Panarin has been warning of a future disintegration of the United States and the collapse of the dollar. The recent election victory for Japan’s Democratic Party is another sign that the economic collapse of the U.S. is imminent, according to Panarin.
“Today I received another confirmation that the collapse of the dollar and the US is inevitable. Japan’s Democratic Party won the election, and I’d like to remind you that its leader [Yukio Hatoyama] has the snubbing of the dollar among his economic plans. In plainer words, he plans to transfer Japan’s monetary reserves from US dollars into another currency. The move will seriously accelerate the dollar’s exchange slump as early as this November. Disintegration will follow shortly,” he said, adding that next year China would also begin to massively dump the dollar and that Russia would begin to sell oil and gas for roubles.
Panarin previously stated that the dollar would eventually be replaced with “a common Amero currency as a new monetary unit”, referring to the Security and Prosperity Partnership agreement between the U.S., Canada and Mexico.
He foresees the U.S. breaking up into six different parts, roughly along lines similar to those of 1865 during the Civil War, “The Pacific coast, with its growing Chinese population; the South, with its Hispanics; Texas, where independence movements are on the rise; the Atlantic coast, with its distinct and separate mentality; five of the poorer central states with their large Native American populations; and the northern states, where the influence from Canada is strong,” according to Panarin.
Longer term, Panarin predicts that the breakaway states will eventually be taken over by the European Union, Canada, China, Mexico, Japan and Russia and America will cease to exist altogether, as depicted in the illustration above.
Panarin blames the collapse on a “political elite that implements an absurd and aggressive policy that aims to create conflicts around the planet” and warns that increasing firearms sales in the U.S. are a sign that people are preparing for “chaos” in the aftermath of a total financial meltdown.
“In my opinion, the probability of the US ceasing to exist by June, 2010 exceeds 50%. At this point, the mission of all major international powers is to prevent chaos in the US,” Panarin concluded.
- The key questions are: Is the crisis over? Have the underlying cause of the crisis been resolved? The answer is clearly No! The cracks have been papered over but more and bigger cracks are showing. The next stage of the collapse is just around the corner. The fraudulent finance, the ponzi schemes, the quadrillion dollars derivatives problems .. have not been resolved. Tax payers monies are used to fuel the continuance of all these toxic crap. The level of denial in the MSM is amazing. Reality has a way of biting back and biting back soon.
- Mike Whitney writes :
Ben Bernanke never should have been reappointed as Fed chairman. Obama made a big mistake. The main thing to remember about Bernanke is that, in the two years since the financial crisis began, he’s made no effort to force the large banks and financial institutions to write-down their losses. Nor has he pushed for the regulations that are needed to restore confidence in the system. The credit system is still clogged because the banks are buried under $1.5 trillion in toxic assets and non performing loans which are defaulting at the fastest pace on record. At the same time, Bernanke has failed to push for reform of derivatives trading, off-balance sheet operations, securitization or capital requirements for financial institutions. The good news is that Bernanke has demonstrated great creativity in providing sufficient liquidity to keep the financial system from collapsing in a heap. The bad news is that the core problem is not liquidity at all, but solvency. A good portion of the banking system is underwater. That’s why Bernanke’s actions have been a complete flop.
The banks can’t fix themselves, because–to do so–would drive many of them out of business. If the FDIC doesn’t sort them out, they will continue to be a drain on public resources. Lending will continue to contract and GDP will shrink. That’s what is happening now, except Obama stimulus has triggered a slight uptick in growth that is being confused for recovery. But there is no recovery. Things are simply getting worse at a slower pace. That’s to be expected. Housing prices will not go to zero; they flatten out over time. That doesn’t mean things are getting better. They’re not; they’re getting worse. Personal consumption is in the tank, business investment has never been lower, the rate of bank failures is accelerating, and unemployment is headed higher. So where are the “green shoots”?
Many people believe that the Federal Reserve is the head of a banking cartel. But that’s not entirely true. Bernanke is actually an employee of the banking cartel; an apparatchik who carries out the policies that best serve the interests of his constituents. The Central Bank’s serial bubblemaking has been a successful means of transferring capital from working people to the investor class and corporate elites. The facts speak for themselves.
A report by University of California, Berkeley economics professor Emmanuel Saez concludes that income inequality in the United States is at an all-time high, surpassing even levels seen during the Great Depression.
The Fed disguises its stealth-looting of the middle class with ideological mumbo-jumbo about “supply side” this and “trickle down” that. Ripping off working people has a long history going back 30 years Reagan’s “Voodoo” economics, but the severity of the current recession has pitted market fundamentalism against the sobering reality that the US consumer is not an inexhaustible resource. Debt-fueled consumption has reached its apex and is descending rapidly. This is apparent in all of the recent research and data. Between 2000 and 2007 US households increased their aggregate debt by nearly $14 trillion. The household debt-to-disposable income ratio rose to 135% and has only recently declined to 128%. For the first time in 60 years, households have begun saving. (although much of what is classified as “saving” is, in reality, just paying down debt) The larger point is,that US consumers are undergoing a generational shift and will not be able to lead the way out of the recession as they have in the past. Nor will they miraculously “bounce back” and provide demand for products made abroad. In fact, the export-driven model (Germany, South Korea, Japan, China) is sure to be challenged in ways that were unimaginable just two years ago. With credit lines being cut, and outstanding credit shrinking by trillions in the past year alone, and unemployment nudging 10 per cent (16 per cent in real terms) the consumer will not be the locomotive driving the global economy. Credit destruction, asset firesales, defaults, and foreclosures will continue for the foreseeable future choking off growth and pushing unemployment higher. Consumption patterns are changing dramatically, although their impact won’t be fully-felt until government stimulus programs run out. That’s when the signs of Depression will become apparent once more.
Bernanke’s reappointment isn’t just wrong because he failed to detect the biggest housing bubble of all time, or for supporting the loosey-goosey monetary policies which triggered the current Great Recession, or for shrugging off Congress’s attempts to audit the Fed, or for rejecting Bloomberg News (legal) claims that the Fed should release information about which financial institutions received $1.5 trillion in Fed loans, or for $12.8 trillion to keep a corrupt and insolvent system operating while millions of working people lose their homes, their jobs and their prospects for the future. These are bad enough, but, worse still, is the fact that Bernanke’s strategy has no chance of succeeding; it just kicks the can further down the road.
The economy is experiencing system-wide deleveraging and deflation is now visible in every sector of the economy. Exports are down, so is trucking. Railroad freight is off 18 per cent year-over-year. Department stores, building materials, restaurants, furniture sales, appliances, travel, retail, outdoor equipment, tech; down, down, down, down, down and down. You name it; it’s down. Consumer credit is plummeting and personal savings are up. Industrial production is down, PPI down. Capacity utilization has slipped to 68.5 per cent.(another record) There’s so much slack in the system, inflation could be low for years. Commercial real estate–a $3.5 trillion industry–is plunging faster than residential housing. Corporate bond defaults are at record highs, Treasury yields are flat, and the dollar index is teetering at the brink. It’s a wasteland.
Bernanke has put himself and the country in the direct path of a debt-liquidation avalanche; a near-endless flow of rising defaults, foreclosures and bankruptcies. His liquidity injections and monetization programs have inflated another speculative bubble in the stock market, but eventually that will run its course and stocks will retest their March lows. The massive debt-purge will continue despite the Fed chief’s best efforts. The trend is irreversible.
Debt-reduction can’t be put off forever. Markets eventually “correct” and red ink gets mopped up. That’s just the way it is. Bernanke is simply trying to prevent the market from clearing. It’s futile. And, that’s why he shouldn’t have been reappointed.
- The end game of this engineered crisis is definitely a world currency. The PTB need to crash the entire system to drive the entire world to this world currency. A world currency implies loss of national sovereignty and no country will willingly surrender it. The plan also is to force countries to accept a global governance organization, a supra sovereign central bank. Countries will surrender their economic and monetary sovereignty.
- In my opinion, we will likely see return to a gold back monetary standard. This will side step many of the objections. Countries can still have their national currencies but back by gold. This implies that gold will be the underlying world currency.
- The volatility in the forex market seems to be increasing. The USDX is fighting at the 78 level support. Many attempts to break below this level in the past 1-2 weeks have been met by equally sharp drives to the upside. These are probably the final death struggles of the USD. Bloomberg reports:
Like the Chinese, the folks at Disney World peg their currency to the dollar. Hand them $1 U.S. and you receive one Disney dollar, complete with a picture of Mickey Mouse or his friends, plus the signature of Disney’s official treasurer, Scrooge McDuck.
That transaction now seems superfluous. The U.S. dollar is rapidly transforming into a Mickey Mouse currency. This has led to a rising call for the creation of an alternative to the dollar in the form of a new world currency. It would be an enormous mistake to discount these calls as a sideshow. The odds of a world currency emerging have never been higher.
The calls are coming from many corners. Nobel Prize-winning economist Joseph Stiglitz chaired a United Nations panel that recommended the creation of a global reserve currency. Zhou Xiaochuan, governor of the People’s Bank of China, proposed that the International Monetary Fund take over the global leadership role traditionally ceded to the U.S. And Russian President Dmitry Medvedev handed out minted coin samples of a new world currency at the recent Group of Eight meeting in Italy.
These calls are worth paying attention to for a number of reasons. The arguments for a world currency are much better than you might think. An alternative to the dollar clearly has a promising market that can develop even if it is opposed by the U.S. And the idea of a world currency is most attractive to those who devoutly believe in multilateral institutions and the Canon of Lord Keynes — beliefs that are hardly in short supply in Barack Obama’s White House. Let’s look at each point in turn.
The dollar (and to a lesser extent the yen and euro) primarily serves as the world’s reserve currency. This means that nations around the world accumulate dollars, and dollar- denominated assets such as U.S. Treasuries, to provide a buffer stock against bad macroeconomic news.
From the point of view of dollar customers, this practice has two big problems. First, countries playing the game are giving the U.S. and other developed nations a large low-interest loan. The Stiglitz panel estimated that developing countries loaned $3.7 trillion to developed countries in 2007 alone. No rational development policy could defend such a capital flow.
Second, the U.S. and almost every other developed nation are on unsustainable fiscal paths, with soaring deficits and likely severe financial problems down the road. Developing nations that hoard dollars probably will experience big losses.
So it is easy to see why developing nations in particular might want to band together and pursue an alternative strategy that diverts the monetary spoils away from the U.S. Zhou and the Stiglitz panel have independently described how this might occur.
The IMF issues something known as Special Drawing Rights. These are analogous to a currency and were originally intended to replace gold as an international unit of account. The SDR market, limited until now, could easily be expanded, especially if a number of countries band together and announce that they would hold a large fraction of their reserves in the IMF currency.
If such a move were to gather steam, Keynesians would have yet another reason to celebrate the resurgence of their ideas. When the Bretton Woods system was set up, tying world currencies to the dollar, John Maynard Keynesproposed that the world establish an international currency unit that he called the bancor. A key attraction of the bancor was that it was to relax the pressure on distressed countries to run budget surpluses during recessions in order to ease the fears of antsy investors.
Keynesian White House
Pressures for such policies persist to this day and likely have a number of sympathetic ears in the Obama White House. Paul Volckerhas expressed support for the idea and can’t possibly be alone in that view. This is, after all, the administration that put all of its cards on the largest Keynesian stimulus package in U.S. history. Such devout faith in Keynes seems incompatible with vehement opposition to adopting the bancor.
Given these forces, it seems likely that a world currency will emerge sooner rather than later. Here’s how it might happen:
Countries such as China and Russia will seek to expand the market for the world currency, perhaps by divorcing themselves from the dollar and investing heavily in bancors. After the developing world follows suit, nations will begin to peg their currencies to the bancor. Eventually, even the U.S. may well join in.
If that comes to pass, our currency transactions will be analogous to what happens today at Disney World. Only this time, the U.S. dollar will truly be the funny money.