Gold Is The Final Refuge Against Universal Currency Debasement!

• Massive QE 2.0 is a foregone conclusion. The Illuminist banksters will stir inflation up to inflate away their debts to rescue their banks. Physical gold and silver are the protection from this currency debasement worldwide.
   
  Gold is the final refuge against universal currency debasement
  States accounting for two-thirds of the global economy are either holding down their exchange rates by direct intervention or steering currencies lower in an attempt to shift problems on to somebody else, each with their own plausible justification. Nothing like this has been seen since the 1930s.
   
  “We live in an amazing world. Everybody has big budget deficits and big easy money but somehow the world as a whole cannot fully employ itself,” said former Fed chair Paul Volcker in Chris Whalen’s new book Inflated: How Money and Debt Built the American Dream. “It is a serious question. We are no longer talking about a single country having a big depression but the entire world.”
   
  The US and Britain are debasing coinage to alleviate the pain of debt-busts, and to revive their export industries: China is debasing to off-load its manufacturing overcapacity on to the rest of the world, though it has a trade surplus with the US of $20bn (£12.6bn) a month.
   
  Premier Wen Jiabao confesses that China’s ability to maintain social order depends on a suppressed currency. A 20pc revaluation would be unbearable. “I can’t imagine how many Chinese factories will go bankrupt, how many Chinese workers will lose their jobs,” he said.
   
  Plead he might, but tempers in Washington are rising. Congress will vote next week on the Currency Reform for Fair Trade Act, intended to make it much harder for the Commerce Department to avoid imposing “remedial tariffs” on Chinese goods deemed to be receiving “benefit” from an unduly weak currency.
   
  Japan has intervened to stop the strong yen tipping the country into a deflation death spiral, though it too has a trade surplus. There is suspicion in Tokyo that Beijing’s record purchase of Japanese debt in June, July, and August was not entirely friendly, intended to secure yuan-yen advantage and perhaps to damage Japan’s industry at a time of escalating strategic tensions in the Pacific region.
   
  Brazil dived into the markets on Friday to weaken the real. The Swiss have been doing it for months, accumulating reserves equal to 40pc of GDP in a forlorn attempt to stem capital flight from Euroland. Like the Chinese and Japanese, they too are battling to stop the rest of the world taking away their structural surplus.
   
  The exception is Germany, which protects its surplus ($179bn, or 5.2pc of GDP) by means of an undervalued exchange rate within EMU. The global game of pass the unemployment parcel has to end somewhere. It ends in Greece, Portugal, Spain, Ireland, parts of Eastern Europe, and will end in France and Italy too, at least until their democracies object.
   
  It is no mystery why so many states around the world are trying to steal a march on others by debasement, or to stop debasers stealing a march on them. The three pillars of global demand at the height of the credit bubble in 2007 were – by deficits – the US ($793bn), Spain ($126bn), UK ($87bn). These have shrunk to $431bn, $75bn, and $33bn respectively as we sinners tighten our belts in the aftermath of debt bubbles.. The Brazils and Indias of the world are replacing some of this half trillion lost juice, but not all.
   
  East Asia’s surplus states seem structurally incapable of compensating for austerity in the West, whether because of the Confucian saving ethic, or the habits of mercantilist practice, or in China’s case by the lack of a welfare net. Their export models rely on the willingness of Anglo-PIGS to bankrupt themselves.
   
  So we have an early 1930s world where surplus states are hoarding money, instead of recycling it. A solution of sorts in the Great Depression was for each deficit country to devalue, breaking out of the trap (then enforced by the Gold Standard). This turned the deflation tables on the surplus powers – France and the US from 1929-1931 – forcing them to reflate as well (the US in 1933) or collapse (France in 1936). Contrary to myth, beggar-thy-neighbour policy was the global cure.
   
  A variant of this may now occur. If China continues to hold down its currency, the country will import excess US liquidity, overheat, and lose wage competitiveness. This is the default cure if all else fails, and I believe it is well under way.
   
  The latest Fed minutes are remarkable. They add a new doctrine, that a fresh monetary blitz – or QE2 – will be used to stop inflation falling much below 1.5pc. Surely the Fed has not become so reckless that it really aims to use emergency measures to create inflation, rather preventing deflation? This must be a cover-story. Ben Bernanke’s real purpose – as he aired in his November 2002 speech on deflation – is to weaken the dollar.
   
  If so, he has succeeded. The Swiss franc smashed through parity last week as investors digested the message. But the swissie is an over-rated refuge. The franc cannot go much further without destabilizing Switzerland itself.
   
  Gold has no such limits. It hit $1300 an ounce last week, still well shy of the $2,200-2,400 range reached in the late Medieval era of the 14th and 15th Centuries. This is not to say that gold has any particular “intrinsic value”’. It is subject to supply and demand like everything else. It crashed after the gold discoveries of Spain’s Conquistadores in the New World, and slid further after finds in Australia and South Africa. It ultimately lost 90pc of its value – hitting rock-bottom a decade ago when central banks succumbed to fiat hubris and began to sell their bullion. Gold hit a millennium-low on the day that Gordon Brown auctioned the first tranche of Britain’s gold. It has risen five-fold since then.
   
  We have a new world order where China and India are buying gold on every dip, where the West faces an ageing crisis, and where the sovereign states of the US, Japan, and most of Western Europe have public debt trajectories near or beyond the point of no return.
   
  The managers of all four reserve currencies are playing fast and loose: the Fed is clipping the dollar; the Bank of England is clipping sterling; the European Central Bank is buying the bonds of EMU debtors to stave off insolvency, something it vowed never to do just months ago; and the Bank of Japan has just carried out two trillion yen of “unsterilized” intervention.
   
  Of course, gold can go higher.

end

The Currency Crisis of 2010-2011 !

• Is the world heading towards recovery or another calamity? In my opinion, a global monetary crisis is brewing and may be about to break out. Gold is money for over 5000+ years. Fiat currencies are just legalized fraud perpetrated by privately owned central banks.
   
  The Currency Crisis of 2010-2011
  Financial markets in the last two years have been absolutely nuts. Huge moves in currencies, bonds, stocks, commodities – every market went crazy as the world nearly fell into a dark age. Yes, it was very close to “guns, ammo and water” time, much closer than any of the CNBC pundits would let on.
   
  The financial markets seem a bit calmer over the past few months. Even with people flooding into U.S. government bonds because of safety concerns, the markets aren’t making the huge moves they made in 2008 and 2009. Yes, investors are avoiding the stock market, but it isn’t like there is panic in the streets, like there was until May of this year. The markets have calmed a bit.
   
  Now for some bad news: These calm times aren’t going to last. Soon, people are going to be talking about the currency crisis of 2010-2011 – as we live through it, blow by blow. But the biggest part of it will be due to the titanic clash of wrongheaded economics clashing with real-world facts. When the financial markets realize this, there is going to be huge, unprecedented moves that rock all markets – and the calm times will be over. We need a way to understand what might happen in the next year and profit from it.
   
  Competitive Devaluations of Currencies
  The currency crisis of 2010-2011 will be about two big ideas: recognizing losses from the housing market and a double-dip recession. But profiting from the currency crisis will be about one huge idea: competitive devaluation of currencies. During 2010 and 2011, the biggest topic will be how countries are competing to make their currencies less valuable, not more valuable.
   
  The reason for this is simple – according to standard economic theory, the only way for an economy to grow is to make stuff for rich people and sell it to them. Nearly every economy in the world is export-driven except the United States. A weak currency is great for exports.
   
  So during the next year, as the world economy falls off a cliff, countries will be fighting for the crumbs from an ever-smaller pie. There is really only one choice here – the way to economic growth in this situation is to be the cheapest supplier of goods.
   
  In these lean times, companies are already running with the minimum staff possible. An easy way to make your goods cheaper is to make your currency less valuable than it was.
    
  We’ve seen this already – countries are bickering about weakening their currencies. China is holding its currency artificially weak against the U.S. dollar and has for years. Japan just had a meeting on how they are going to intervene and make their currency weaker. But Germany is in the best situation of all.
   
  You’ve heard about the problems with the euro – the euro currency is down nearly 25% from its highs because people are worried that some countries in the eurozone could default on their debt. But for German exporters, this low euro is great news. It is like a 25%-off sale, but they magically get the same number of euros to pay their workers. And they don’t have to spend a euro to make their currency weaker.
   
  Germany recorded 2.1% growth in one quarter – that’s nearly 9% growth over a year – largely because the euro is so undervalued right now. The only problem is that this growth is coming at the expense of another country’s growth.
   
  It’s actually a long list of other countries that want this growth. You can bet that Japan, China, Australia, the U.K, and the rest of the world took notice of that smoking-hot quarter. I bet they are all wishing they had a currency crisis too right now – 9% growth transforms a weak currency into a strong domestic economy.
    
  But one country’s growth is another country’s lost growth. The competition to weaken currencies will be fierce, and governments will spend hundreds of billions to support their domestic economies. The next few years are going to be defined by currency interventions and plots to manipulate the currency market. Most of these interventions will be unsuccessful, but some will succeed. China has been extremely successful in pegging its currency for several years, so a country with enough money can make it happen. But in any case, when countries intervene, Forex markets get hot.
   
  Recovery for the Global Economy?
  The global economy never recovered from the shadow banking crisis of 2008. While today people are talking about government spending, the reason the world blew up in 2008-2009 didn’t have anything to do with governments. The crisis was due to investment banks blowing up – because they lost hundreds of billions of dollars. People forget this, but it was excessive speculation that started the crisis.
   
  Then governments around the world made a huge, huge mistake. The U.S. government decided to save the banking system, thinking that it was lending that drove the real world economy. Really, it’s the other way around – our real world economy is what drives real economic growth and the creation of wealth.
   
  Of course, our government spent several trillion dollars on this stupid idea of supporting banks – at the expense of throwing real people and businesses off the bridge. You can see the shoddy results: 9.5% unemployment, trillions of dollars of new debt, horrible consumer sentiment, low economic growth – a grand slam of bad outcomes. And it has all been caused by a failure of an economic paradigm that doesn’t recognize how money is actually created.
   
  Now we are stuck with a situation where governments have absorbed much of the private sector losses in the crisis through a variety of programs. But the problem is that although those losses might have changed hands, they didn’t go away.
   
  Now, there are really only two ways for losses of this magnitude to go away. One, they can be written off and recognized by the banks, companies, and people who made the bad business decisions. That isn’t happening at all – these banks have done everything possible to push the losses off on U.S. citizens, or pretend they don’t exist. Two, they can be inflated away. That isn’t happening either. Inflation is the lowest it has been in my lifetime. And inflation expectations over the next 10 years are very, very low.

end

Larry King: UFOs Shut Down Nuclear Weapons!

National Press Club UFO Disclosure Conference (27 Sep 2010): UFOs at Nuclear Weapon Bases !

• The pace is heating up. Not sure when they will make a full worldwide unveiling. This is the Illuminist snakes final gambit for their New World Order, Global Luciferian Police State, the 4th World Empire of Iron and Clay. A Nephilim empire of fallen angels and man. See also: Aliens have deactivated British and US nuclear missiles, say US military pilots.
   
  Aliens ‘hit our nukes’: They even landed at a Suffolk base, claim airmen
  It may sound like a Spielberg movie plot, but if senior U.S. airmen are to be believed, this scenario is not science fiction. They claim that since 1948, aliens have been hovering over UK and U.S. nuclear missile sites and deactivating the weapons– once even landing in a British base. Furthermore, they warn, our governments are hushing the activity up.
   
  Captain Robert Salas, who, along with six others is to break his silence on the subject, said: ‘We’re talking about unidentified flying objects, as simple as that. ‘They’re often known as UFOs, you could call them that. The U.S. Air Force is lying about the national security implications of unidentified aerial objects at nuclear bases and we can prove it,’ he said. The former officer said he witnessed such an event first-hand on March 16, 1967, at Malmstrom Air Force Base in Montana.
   
  ‘I was on duty when an object came over and hovered directly over the site. ‘The missiles shut down – ten Minuteman [nuclear] missiles. And the same thing happened at another site a week later. There’s a strong interest in our missiles by these objects, wherever they come from. I personally think they’re not from planet Earth.’ Colonel Charles Halt claims to have seen a UFO at RAF Bentwaters, near Ipswich, one of the few bases in the UK to hold nuclear weapons.
   
  The sighting is said to have taken place 30 years ago. First he saw the object firing beams of light into the base then heard on the military radio that aliens had landed inside the nuclear storage area, he said. ‘I believe that the security services of both the United States and the United Kingdom have attempted – both then and now – to subvert the significance of what occurred at RAF Bentwaters by the use of well-practised methods of disinformation.’
   
  The six former U.S. Air Force officers and one former enlisted man, are to present declassified information which they claim backs up their findings. They have witness testimony from 120 former or retired military personnel which points to alien intervention at nuclear sites in the U.S. as recently as 2003. They will urge the authorities to confirm that alien beings have long been visiting Earth.
   
  A press conference today in Washington will also highlight testimony from retired U.S. Air Force Captain Bruce Fenstermacher, whose security team saw a cigar-shaped UFO hovering above FE Warren nuclear base in Wyoming in 1976. Researcher Robert Hastings, who has written on the subject, explained that so far the aliens appeared interested in ‘mere surveillance’ but warned they seemed to have gone further in some instances.
   
  ‘At long last, all of these witnesses are coming forward to say that, as unbelievable as it may seem to some, UFOs have long monitored and sometimes tampered with our nukes,’ he added.

end

The Coming Strong Delusion! UFO Disclosure: Retired Military Officers Press Conference To Warn UFO Activity At Nuclear Sites! UN Preparing For First Contact.

• Once you see the MSM not ridiculing the UFO and Alien subject, you know something is up! Their attitude has taken a 180 degrees turn for the past 2 years. We are in a new phase of this pre-planned end times strong delusion. The MSM is now actively selling UFO and Alien visitation news. They have been ridiculing, hiding, obfuscating …..all UFO news since the 1950s. So this is a dramatic change.
   
• This is the coming endtimes strong delusion, lying signs and wonders. The war in heaven is escalating and these fallen angels and their demon children are losing the war. What is about to appear are not extraterrestrials but inter-dimensional, heavenly realms spiritual beings. This will be one hell of a scam, the greatest deception  of all time.
   
• Both the Vatican and United Nations have openly made official statements about UFOs and Aliens. The Vatican said they do not have problems baptizing our ‘space brothers’ and they will not threatened the Vatican’s religious beliefs. The United Nations are obviously preparing for UFO contact and landing. Here are curious reports about what may be happening behind the scenes at the United Nations. I am not able to confirm their veracity. You can decide for yourself.
   
  Secret UN meetings discussing UFOs Chaired by President of the General Assembly (13-14 Feb 2008)
  The names of thee senior officials who attended a series of secret United Nations meetings discussing recent UFO sightings have just been announced. Gilles Lorant. a French Aviation expert disclosed these names in a pre-interview discussion with a French radio journalist, Didier de Plaige (translation below) . Lorant revealed that the meetings he attended on February 13 and 14, were chaired by Srgjan Kerim, the President of the UN General Assembly.
   
  Anonymous Source Revealing Secret United Nations Meeting on ETs/UFOs Becomes More Credible
  Veteran UFO researcher Robert VanDerClock has confirmed that he has met with and seen the credentials of an anonymous source who disclosed that a secret UN meeting had taken place on February 12 that discussed UFOs and extraterrestrial life. In a February 13 article first announcing the secret UN meeting, the anonymous source disclosed that the meeting was called in response to national governments concerns about increases in global UFO sightings. In a later article, the anonymous source, henceforth referred to as “Source A”, disclosed a time table existed for full disclosure of extraterrestrial life by 2017. In a phone interview conducted with me on March 25, VanDerClock confirmed that he had met with Source A approximately one year earlier. At the time, Source A was accompanied by the same two New York researchers, Clay and Shawn Pickering, who were responsible for the initial release of information concerning the February 12 meeting.
   
  At their meeting one year ago, VanDerClock personally reviewed the military credentials of Source A that were, in VanDerClock’s opinion, “impeccable”. Source A showed Vanderclock an album of his military service in classified facilities. This helps confirm some of the claims of Source A of having worked in classified facilities where he was exposed to projects involving extraterrestrial technology and life. Source A possessed, for example, a classified document he obtained in 1982 that detailed retrieval operations for crashed extraterrestrial vehicles that was another version of the famed Special Operations Manual that publicly emerged in 1994.
   
  Further Secret UN Meetings on UFOs/Extraterrestrial Life are Occurring According to credible Military Whistleblower
  According to a credible military-diplomatic source, the UN has held four secret meetings discussing UFOs and extraterrestrial life in addition to the meeting(s) claimed to have occurred on February 12(& 13-14). Further details of the UN UFO discussions were announced in an update released by veteran UFO researcher Robert Morningstar, and Clay and Shawn Pickering on June 1 after their meeting with the anonymous military diplomatic source on May 19. Their source initially released information about secret UN discussion on UFOs and extraterrestrial life on February 12. Source A, as he has subsequently been known, claims to have been authorized to disclose the information by a secret UFO working group comprising several U.S Navy admirals. Though the working group was not officially part of the U.S. Department of the Navy, it apparently was intent on promoting U.S. Navy interests vis-à-vis management and control of information on extraterrestrial life. The most recent UN meeting on UFOs/extraterrestrial life was claimed to have occurred on May 19. It allegedly focused on the issue of the media’s ridiculing of the UFO/ET phenomenon as an impediment to disclosure.
   
  Attempts to confirm Source A’s claims have not progressed beyond arranging several meetings with UFO researchers who were able to interview him and to physically examine his credentials. Source A’s credentials as a senior military officer have been confirmed by a number of researchers including Robert Morningstar and Robert VanDerClock who have concluded Source A is very credible. Indeed VanDerClock views Source A as among the top three whistleblower sources to have publicly emerged along with Lt Col. Philip Corso (former U.S. Army) & former NASA engineer Clark McClelland to disclose information about extraterrestrial life. Source A has also met and shown his credentials to another two prominent UFO researchers, neither of which has yet come forward to make public statements about Source A’s credibility. In conclusion, Source A’s claim that he is a serving military officer currently assigned as a military liaison to the U.S. State Department has been confirmed based on what has been disclosed by researchers so far.

end

G. Edward Griffin: Silver Shines as an Economic Solution!