Forbidden Gates: The Nephilim Spirit Behind Transhumanism!
- This is an excellent article by Dr. Tom Horn and his wife on the history behind the current trends in the re-engineering of man into Neo Adam. This is the transhumanist dream but in reality is the nightmare of Genesis 6, the antediluvian world. A world of corrupt cross breeding of species and Neo Nephilim Adam is no longer human.
- The secret government has been engaging in cross species cloning experiments for the past few decades. For eg. the Super Soldier program. They have been experimenting on genetics for re-engineering the human race as the next stage of human ‘devolution’. Life extension technology, cloning and many more high technologies have been kept from the public. There are talks of a life span of 120 years with a physical body of a 30-40 year old.
THE SPIRIT BEHIND TRANSHUMANISM
English theologian George Hawkins Pember, in his 1876 masterpiece, Earth’s Earliest Ages, analyzed the prophecy of Jesus Christ that says the end times would be a repeat of “the days of Noah.” Pember outlined the seven great causes of the antediluvian destruction and documented their developmental beginnings in his lifetime. The seventh and most fearful sign, Pember wrote, would be the return of the spirits of Nephilim, “the appearance upon earth of beings from the Principality of the Air, and their unlawful intercourse with the human race.”
Jesus Himself, in answering His disciples concerning the signs of His coming and of the end of the world, said it would be “as the days of [Noah] were” (Matthew 24:37). The implication is, just as it was before the Flood when the spirits of Nephilim were powerful upon earth (Genesis 6:4), mankind would experience an end-times renaissance of the influence of these entities. From Scripture we are made to understand the purpose of this latter-day wave of supernaturalism includes deception (2 Timothy 3:13), and the effect upon mankind would be so successful that heresy and delusion would become firmly entrenched—even within institutionalized Christianity. In writing of this scenario, Paul prophesied to Timothy that “in the latter times, some shall depart from the faith, giving heed to seducing spirits, and doctrines of devils” (1 Timothy 4:1).
Based on contemporary developments, the foretold increase in demonism and its influence within secular and religious society is rapidly unfolding this century—abruptly, dramatically, and suspiciously. In a recent edition of Prophecy in the News magazine, biblical scholar Gary Stearman agreed, stating in disturbing language how the manifestation of these powers are quickening now because the world is under conditions “in which the influence of God’s Holy Spirit is diminishing.”[i] This is apparent not only in metaphysics, but within science and technology, where genetic engineering and transhumanist aspirations seem literally hell-bent on repeating what the Watchers did in giving birth to the spirits of Nephilim as in the days of Noah.
THE FIRST TIME NEPHILIM APPEARED ON EARTH
As far back as the beginning of time and within every major culture of the ancient world, the astonishingly consistent story is told of “gods” who descended from heaven and materialized in bodies of flesh. From Rome to Greece—and before that, to Egypt, Persia, Assyria, Babylonia, and Sumer—the earliest records of civilization tell of the era when powerful beings known to the Hebrews as “Watchers” and in the book of Genesis as the b’nai ha Elohim (“sons of God”) mingled themselves with humans, giving birth to part-celestial, part-terrestrial hybrids known as “Nephilim.” The Bible says this happened when men began to increase on earth and daughters were born to them. When the sons of God saw the women’s beauty, they took wives from among them to sire their unusual offspring. In Genesis 6:4, we read the following account: “There were giants [Nephilim] in the earth in those days; and also after that, when the sons of God came in unto the daughters of men, and they bare children to them, the same became mighty men which were of old, men of renown.”
When this Scripture is compared with other ancient texts, including Enoch, Jubilees, Baruch, Genesis Apocryphon, Philo, Josephus, Jasher, and others, it unfolds to some that the giants of the Old Testament such as Goliath were the part-human, part-animal, part-angelic offspring of a supernatural interruption into the divine order and natural development of the species. The apocryphal Book of Enoch gives a name to the angels involved in this cosmic conspiracy, calling them “Watchers.” We read:
And I Enoch was blessing the Lord of majesty and the King of the ages, and lo! the Watchers called me—Enoch the scribe—and said to me: “Enoch, thou scribe of righteousness, go, declare to the Watchers of the heaven who have left the high heaven, the holy eternal place, and have defiled themselves with women, and have done as the children of earth do, and have taken unto themselves wives: Ye have wrought great destruction on the earth: And ye shall have no peace nor forgiveness of sin: and inasmuch as they delight themselves in their children [the Nephilim], The murder of their beloved ones shall they see, and over the destruction of their children shall they lament, and shall make supplication unto eternity, but mercy and peace shall ye not attain.” (1 Enoch 10:3–8)
According to Enoch, two hundred of these powerful angels departed “high heaven” and used women (among other dna providers) to extend their progeny into mankind’s plane of existence. The Interlinear Hebrew Bible (ihn) offers an interesting interpretation of Genesis 6:2 in this regard. Where the King James Version of the Bible says, “The sons of God saw the daughters of men that they [were] fair,” the ihn interprets this as, “The [b’nai ha Elohim] saw the daughters of Adam, that they were fit extensions” (emphasis added). The term “fit extensions” seems applicable when the whole of the ancient record is understood to mean that the Watchers wanted to leave their proper sphere of existence in order to enter earth’s three-dimensional reality. They viewed women—or at least their genetic material—as part of the formula for accomplishing this task. Departing the proper habitation that God had assigned them was grievous to the Lord and led to divine penalization. Jude described it this way: The “angels which kept not their first estate, but left their own habitation, He hath reserved in everlasting chains under darkness unto the judgment of the great day” (Jude 6).
Besides apocryphal, pseudepigraphic, and Jewish traditions related to the legend of the Watchers and the “mighty men” born of their union with humans, mythologized accounts tell the stories of “gods” using humans and animals to produce heroes or demigods (half-gods). When the ancient Greek version of the Hebrew Old Testament (the LXX or Septuagint) was made, the word “Nephilim”—referring to the part-human offspring of the Watchers—was translated gegenes, a word implying “earth born.” This same terminology was used to describe the Greek Titans and other legendary heroes of part-celestial and part-terrestrial origin, such as Hercules (born of Zeus and the mortal Alcmena), Achilles (the Trojan hero son of Thetis and Peleus), and Gilgamesh (the two-thirds god and one-third human child of Lugalbanda and Ninsun).
These demigods were likewise accompanied in texts and idol representation by half-animal and half-human creatures like centaurs (the part-human, part-horse offspring of Apollo’s son, Centaurus), chimeras, furies, satyrs, gorgons, nymphs, Minotaurs, and other genetic aberrations. All of this seems to indicate that the Watchers not only modified human dna during the construction of Nephilim, but that of animals as well, a point the Book of Enoch supports, saying in the seventh chapter that the fallen angels “sinned” against animals as well as humans. Other books such as Jubilees add that this interspecies mingling eventually resulted in mutations among normal humans and animals whose “flesh” (genetic makeup) was “corrupted” by the activity, presumably through crossbreeding (see 5:1–5; 7:21–25). Even the Old Testament contains reference to the genetic mutations that developed among humans following this time frame, including “men” of unusual size, physical strength, six fingers, six toes, animal appetite for blood, and even lion-like features (2 Samuel 21:20, 23:20). But of all the ancient records, the most telling extrabiblical script is from the Book of Jasher, a mostly forgotten text referred to in the Bible in Joshua 10:13 and 2 Samuel 1:18. Jasher records the familiar story of the fall of the Watchers, then adds an exceptional detail that none of the other texts is as unequivocal about, something that can only be understood in modern language to mean advanced biotechnology, genetic engineering, or “transgenic modification” of species. After the Watchers had instructed humans “in the secrets of heaven,” note what Jasher says occurred: “[Then] the sons of men [began teaching] the mixture of animals of one species with the other, in order therewith to provoke the Lord” (4:18).
The phrase “the mixture of animals of one species with the other” does not mean Watchers had taught men hybridization, as this would not have “provoked the Lord.” God made like animals of different breeds capable of reproducing. For example, horses can propagate with other mammals of the equidae classification (the taxonomic “horse family”), including donkeys and zebras. It would not have “provoked the Lord” for this type of animal breeding to have taken place, as God Himself made the animals able to do this.
If, on the other hand, the Watchers were crossing species boundaries by mixing incompatible animals of one species with the other, such as pig dna with humans like science is doing today, this would have been a different matter and may cast light on the numerous ancient stories of mythical beings of variant-species manufacturing that fit perfectly within the records of what the Watchers were accomplishing. Understandably, this kind of chimera-making would have “provoked the Lord,” and raises the serious question of why the Watchers would have risked eternal damnation by tinkering with God’s creation in this way. Yahweh had placed boundaries between the species and strictly ordered that “each kind” reproduce only after its “own kind.” Was the motive of the Watchers to break these rules simply the desire to rebel, to assault God’s creative genius through biologically altering what He had made? Or was something of deeper significance behind the activity? We’ll talk about this in the next entry, but the following quotes provide a hint:
It would be nice to be an artilect, a god, a supremely powerful omnipotent being. I could be such a creature [soon.] It’s possible. It’s not an unattainable dream…. All I can do here is attempt to convey some measure of the strength of “religious” feeling that I and other[s] will make public this century. —Prof. Hugo de Garis, artificial brain designer
All of the boundaries are up for grabs. All of the boundaries that have defined us as human beings, boundaries between a human being and an animal and between a human being and a super human being or a god. —Prof. Leon R. Kass, former chairman, President’s Council on Bioethics
A non-human race once lived upon earth. They came to be called the Rephaim [Nephilim]. They were genetic monsters, mutants whose end is darkness, just as was their society upon earth. Will JCVI’s [J. Craig Venter Institute, which created the entirely new life form nicknamed “Synthia”] work result in another such atrocity? —Gary Stearman, Bible scholar
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Jim Willie: Competing Currency War in View!
- Jim Willie provides insightful views and also insider feedback on what is happening behind the scenes. Things are not looking good. The eventual collapse of the world economy, financial and monetary system is certain! Will the Illuminists lead the sheeple to world war as cover for their crimes?
Competing Currency War in View
Some prefatory stories are highly revealing. Bank of America is badly on the ropes. On the same weekend at the end of July, when the Bank For Intl Settlements executed a 340 ton gold swap contract, two other events happened. The London metals exchange apparently suffered coordinated delivery raids, all legal, but painful nonetheless, stripping the embattled exchange of much gold bullion. My source from the German banking fortress shared that the BIS might have rescued the London Bullion Market Assn, and thereby prevented a near default at the exchange. Spurious stories about aiding commercial banks, even the Portuguese central bank, were floated to distract the masses. The second event was that on the same weekend, Bank of America suffered a failure. But the USFed pulled it out of the fire by Monday morning with fresh huge infusions of funny money. This week, another $13 billion infusion came to BOA by way of much darker corners of USGovt agencies, from nether recesses. It is getting that bad! So BOA had been propped by the USFed and the USCongress in the past, but by the syndicate now. In time, they will remove the valued assets and exit the burning building. Unexpected consequences are sure to come, a fact of nature. The BOA story came after a prompted inquiry as to which banks might next succumb to the rising gold & silver prices. BOA was at the top of the list of banks mentioned, but others were mentioned too. They appear in the September Hat Trick Letter, the usual suspects.
QE2: A JUSTIFIED CANCER
My best description of QE2, the Quantitative Round #2 Launch, is simply stated a monetary cancer, an admission of failure, and the trigger for the next breakdown in the global monetary system. The QE2 Launch is a US flag flying upside down at the central bank command center. Imagine trying to justify printing money to cover debts, and retaining credibility. The belief stated by USFed Chairman Bernanke, that zero cost comes from printing money, is pure heresy with dire consequences. The cost is lost confidence in the monetary system, in the currencies, and in the central bank franchise system. The QE initiatives kill the requisite confidence. Thus the rise in the Gold price in response. The financial news anchors struggle to hide their growing awareness that gold is the safe harbor from a destroyed monetary system, wrecked currencies, discredited central banks, and insolvent banks. They are awakening, as are those in the investment community.
Three additional sides are revealed on the Quantitative Easing desperation. The Bank of England has a US plant residing within. Adam Posen is an American who sits on the Monetary Policy Committee at the bank. He inflamed concerns about monetary instability with a speech to the Chamber of Commerce in Hull on Tuesday. He urged the major central banks to pursue more aggressive bond buying in order to rescue the world economy from stagnation that persists. He spoke of the fear of looking ineffective from inaction, mitigated by usage of extreme tools. He actually said, “Thus, policymakers should not settle for weak growth out of misplaced fear of inflation.” So there you have it, inflation full speed ahead. A clarion call to inflate. The risk is hyper-inflation. Their policies in the last cycle produced unforeseen problems. In fact, the central banks, in particular the USFed, fight the last war only to create the most monster, on a consistent basis, in a pattern of serial events. Their colossal monetary inflation is breaking all historical records. It is given political cover by virtue of doctored price inflation statistics to hide its chronic 5% to 7% range. Posen pushed for further monetary easing undertaken in the United Kingdom, even to the extent of corporate debt purchases. Of course, to keep the order, they should begin with simple UKGilt (bond) purchases. He acknowledged that a QE program will not be able to create sustained recovery on its own. He fears a 1990s Japan style scenario, when a collapse of the Western monetary system is the more possible ugly outcome. He advises more effective coordination of large scale asset purchases by the central banks working together. This is a trumpet call to the Competing Currency War, where peace is declared at first, but which will vanish in the din of a threatening crisis.
A second warning came from Bill Gross of PIMCO, the newest target of informal inside trader accusations. His bond funds seem to have been benefiting handsomely from advanced notice of many special USGovt programs to purchase bonds. The PIMCO funds might front-run the USGovt policy, certainly doing very well for their investors. They could be the newest invited player in the fascist business model privileged group. Gross is on record this week as warning that the Quantitative Easing programs, those that involve vast bond purchases with newly printed USDollars, backed by nothing, fully diluting the national currency and undermining the central bank integrity, will lead to a worsening strain on the USDollar and a decline in the American standard of living. That is a slick backdoor way of saying significant price inflation. Nobody on stage wishes to warn of price inflation as a consequence to the current policy. Nobody on stage wishes to contradict the low price inflation environment portrayed falsely by bank officials, which justifies the magnificent monetary inflation being ordered.
The third warning came from Yu Yongding, a former adviser to the Chinese central bank. He called the USDollar as being one step nearer to a crisis while debt levels in the US rise to frightening levels. Yu also called a devaluation of the USDollar inevitable while the USGovt debt rises. He stressed that USTreasurys fail to provide safety or liquidity. Yu openly expressed concern over the safety of its FOREX reserves, including those invested in USTreasurys. China is the largest foreign investor in this sanctioned asset bubble, falsely deemed a safe haven. Its pursuit globally has transformed it to an asset bubble. China is trying to shed USGovt bonds, as they have cut holdings by 10% to $847 billion in the twelve months ended July, according to the USDept Treasury data. The invitation given to Fannie Mae to reside under the same USGovt roof as the USTreasurys has greatly increased the risk to the USDollar. The guarantee has been declared as explicit.
EUROPE‘S HAND BID TO DANCE
Any new QE2 chapter will probably have minimal positive effect, but much negative effect. The beneficiary will be gold & silver, but no specific currency, since tied to the same papyrus raft. No cure will come from a prescribed Quantitative Easing Round #2. The first round accomplished nothing. Curiously, the central bankers exhibit a strange sense of caution, as though they realize the great risk of much deeper capital destruction, and heightened risk of triggering price inflation. A selloff of the USDollar might soon motivate a similar QE2 by Europe. Except this time around, the Europeans must admit their Bank Stress Tests were a total fraud and sham staged event. The QE2 will ultimately serve as the catalyst that speeds up the processes riddled in crisis that are already underway. Tremendous destruction of wealth comes next, from the USGovt creditors and US citizens alike.
In order to mitigate the severe damage to the USEconomy and US financial structure, the US will induce Europe to join in the destruction. The cause celebre will be to avoid a fast rising Euro currency. My forecast is that the high risk of a significant USDollar decline will induce European leaders to join in the currency debasement. They will announce a nearly simultaneous rescue soon, a similar EU bank bond redemption initiative, but without much time delay like last time. It will coincide nicely with the USFed QE2 Launch in order to minimize the currency impact and isolated USDollar swoon effect. European leaders will push for a matching QE Launch, since their export trade lies in the line of fire with a higher Euro currency. In joining the deadly tango on the currency dance floor, Europe and the United States will define the primary forces in the Competing Currency War, best described as a race to the bottom. In my view, the hesitation to execute a renewed QE2 program is foreknowledge of its extreme risks and admission of central bank failure at a certain level. It will deplete the central banks of weapons in their toolbag. They will be failure standing naked on the monetary stage in full view.
The advent of the QE2 Launch might have served as the final straw for former USFed Chairman Volcker. The man of extreme stature, perhaps the last effective central banker of US vintage, delivered a scathing tirade to a gathering of bankers and economists, harshly criticizing them in impromptu fashion. He left no financial stone without a stain or dent, in the most ringing, acerbic, rattling harangue qualifying as internal indictment in US history!! That is not an exaggeration, not in the least. Such a shrill speech has never been witnessed in US history. Volcker particularly expressed disappointment that the Financial Regulation Bill actually granted the USFed even more powers, when the original intention was to limit it. That was my stated forecast in the summer Hat Trick Letter reports, since bankers control the USCongress and the reform process. My personal belief is that the QE2 Launch is understood by Volcker as a green light toward a full speed careening downhill ride down into the chasm for the US Economic Ship of State. He must in his mind’s eye realize that the Third World awaits. Isn’t it interesting how the concept of Third World has gained traction in the US alternative press, after the Jackass forecasted it in October 2008? It is mentioned with greater frequency lately.
THE CURRENCY WAR HEATS UP
The competing currency war is ramping up, with gross interventions, open disputes, notable desperation, friction among trade partners, and urgent need to take action. Nations are taking positions against each other increasingly. In defending their economies, they are pitting themselves against allies and foes alike. The number of bilateral squabbles has never been greater. The winner will be Gold, as all paper currencys will circle the toilet and lose. The Gold price acts as a meter; it will rise in spectacular fashion. It rises due to the profound debasement in a death process of the currency system. The undermine is being sanctioned by the major nations. This process follows inevitably after the grotesque insolvency of the US banking system, the UK banking system, and much of the European banking system. Their economies are dying on the vine as a result of the dysfunctional credit systems.
The Competing Currency War has numerous sides in flourishing development, many stories, involving many nations, much conflict, collectively of huge importance. The longstanding battle between China and the United States is at a flashpoint every couple months. Japan is angry that the Chinese central bank has pushed up the value of the Yen. A return to investor flight away from the Euro might resume on renewed concerns over the sovereign risk. The Australian Dollar has been pushed higher by the strength of Australian resource wealth and further official interest rate hikes. Numerous international meetings over the next six weeks will elevate concerns from the broken financial arenas into the fractious political domain. The US and China are headed for a serious clash, with little sign of compromise. Each Quantitative Easing initiative acts like a stick poked in the Chinese eye, since claims of currency manipulation ring hollow when the USGovt is doing precisely that, undercutting the USDollar loudly.
The upcoming midterm elections in the United States could easily flip control to the other inept party, as perceptions grow of systemic failure while political inaction persists. Anticipated gridlock would ensure inaction and accelerate the slide. President Obama hastily sent the lead economic adviser Larry Summers to Beijing to haggle with Chinese leaders over their currency policy. Summers promptly resigned afterwards. Team Obama is losing its members, never perceived as any all-star cast, but rather retreads. The political insects in the USCongress harp on China, an easy target. They buzz but make no honey. Further details on events related to other nations in the widening Competing Currency War are provided in the September Hat Trick Letter. Refer to China versus Japan, but also unilateral actions taken by Australia and Switzerland. Some juicy updates are provided regarding the New Nordic Euro currency scheduled for June 2011. A reversion to the D-Mark currency might be the more likely route. Great disruption comes, but with a de-centralization theme. Several months ago the Jackass forecasted a broad movement toward domestic currencies in Europe. The Globalists appear to be blocked from their conceived plans, good news for people who care about the people.
THE GOLD REACTION
The next chapter will not unfold like the last chapter. Past efforts to remedy in response to crisis were extraordinarily shallow and ineffective. The next round will feature a zooming gold & silver price, already hitting record high levels. GOLD & SILVER will be the beneficiary to currency strife, the global tremor in the monetary system. The paper currencies and their attached sovereign shackles of debt have ruined the approved legal tender format. Money is actually denominated debt!! In the forecasting arena, applying yesterday’s effect to a different world makes for gross errors. What comes will not be a repeat of the USDollar rise after the September and October 2008 events. In fact, what comes next will be the opposite. My forecast is for all currencies, including the USDollar, to suffer great damage in their purchase power and the all important confidence aspect, but to rotate in focused stories. The Competing Currency War has heated up in a huge way. The broken sovereign debt arena has done untold damage to the monetary system, a story not fully told. Gold & Silver will rise, but the currencies (USDollar, Euro, Pound Sterling, Yen) will experience eerie calm !!! Sure, the USDollar will fall, but only until the Euro is intentionally undermined and damaged by its own custodians on the continent. The falling USDollar is your tipoff that every major currency will be under assault. Gold will react favorably.
Numerous factors have conspired to lift the Gold price, which has broken the $1300 target level. It has much more to run, since nothing is fixed, much money has been squandered, and great volumes of additional debt will be monetized in a cancer stroke. Silver has also breached the important $21.5 level of resistance. Rather than show a chart of the Gold price or Silver price, check the Gold-Silver Ratio. Great strides are soon to come in the Silver price, breath taking moves toward $30. The Powerz are losing control of silver, as the shortage is acute. Endemic Big Bank behavior has changed radically in the silver price suppression. They are losing control. Lack of physical metal does that!! One should always remember that central banks own no silver, thus silver wins on the supply side. Also, industry makes almost no demands of gold, thus silver wins on the demand side. Its volatile price should not deter the investor in times of crisis and grotesque shortage, but rather give courage.
THE USDOLLAR SHUN & SHAME
The USDollar is being increasingly avoided in global commerce. China & Russia have set up currency trading facilities. While a positive move, neither nation has a convertible currency. Behold the Chinese Yuan convertibility to Malaysian Ringgit, just the start of global Yuan usage, a small but important step. Usage in Brazil is in the works. Chinese Yuan trading against the Russian Ruble is expected to begin within weeks in Shanghai. Bank Rossii in Russia has targeted the Ruble currency against a Dollar-Euro basket, which the bank claims is a fully convertible currency. China overtook Germany as Russia’s second largest trading partner in the first six months of 2010. Trade between China and Russia rose 50% to $30.7 billion in the first seven months of 2010, compared with the same period in 2009, according to the Chinese Ministry of Commerce. More details are provided in the widening maturing developing relationship between Russia and China in the proprietary reports. Both nations have called vigorously for the USDollar role in the financial system to be reduced. Neither nation has anything remotely to call a major financial center, but they are evolving slowly in steps. Both Putin and Medvedeve has expressed aspirations. The USDollar is in deep trouble internationally, obviously in financial centers, but also in global commerce. The USDollar is even discounted by 20% in some cases in West Africa, like with older vintage bills, the ultimate insult. The issue is heavy counterfeiting. Thanks to Jim Sinclair for that story.
The great bond fraud on Wall Street, the great USGovt deficits, the great USTreasury Bond bubble, the great risk faced by foreign creditors in possession of bloated reserves, these factors are causing lost integrity for the USDollar. In countless transactions conducted at high levels of commerce, the two sides of deals increasingly avoid the USDollar. Dariusz Kowalczyk is a senior economist at Credit Agricole CIB in Hong Kong. He said, “Gradually the dollar is being eliminated from the foreign trade settlement flows. People are beginning to trade Asian currencies without intermediation via the dollar.”
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Bob Chapman: Currency War, Debasement And Gold !
- We are witnessing the start of the currency crisis. The US government is about to pass laws to punish China as a currency manipulator. It is true that the CNY is overvalued, possibly by as much as 40%. The flip side is that the CNY may be the currency that is holding up the USD. The Chinese aren’t stupid. They have many cards in their hands while America has few. Yes, the Chinese will revalue the CN higher. But not before they dispose much of their US$1.5T of USD and treasuries.
- The result is that the bond bubble will burst. The FedRes will go into monetary shock and awe QE 2.0 to buy up treasuries. The USD is toast. Gold and silver are your financial refuge.
Cheapening Currency Also Has Risks
It is interesting to watch Wall Street defy reality. This is a scene we’ve observed since the early 1960s, the effect of debt on the economy and the nation and in turn on its currency. The result of the profligacy over all those years is the biggest bull market in history in gold and silver. As we write gold is toying with $1,300 and silver with $21.50. Each day a new high is reached in spite of a pending options expiration and the perpetual market rigging and manipulation by the US government.
One of the things that astound us is that few professionals have seen this coming over the past 10-1/2 years, and even those that do believe do not think this is an earth-shaking event. What we are about to experience is an event that only occurs every 300 to 500 years. All we can imagine is that they have a very limited perspective of history and particularly economic and financial history.
Unbeknownst to most gold and silver shares, coins and bullion have been under accumulation since 2000, by the smart money. Gold alone on a compound basis has been up just under 20% annually. It should also be noted that gold demand rose 36% in the second quarter.
Several events of recent vintage have changed the atmosphere in which gold and silver reside. Six or eight months ago the major NYC banks arranged for a major rally in the dollar, which ran from 74 to 89. It is now back to 79. The problems in Greece were the catalyst, as well as other EU-euro zone member problems. This caused the euro to fall from $1.50 to $1.19. It is now at $1.35. This temporarily boosted the dollar. About 11 weeks ago we predicted a new quantitative easing program in the US and it was put into operation about a month ago. This is the way the Federal Reserve again intends to keep the US economy from collapsing. The result of this move is that again foreign central banks are moving to cheapen their currencies, because the dollar is again falling in value. That is reflected in the increasing foreign exchange dollar reserves of many countries. What they do to cheapen their currencies in US dollar terms is to print their own national currency and purchase dollars. With those dollars they buy US Treasuries or spend them. That process cheapens their currency in dollar terms. This is called intervention.
The prevailing attitude is that if a nation doesn’t cheapen its currency others will and that would leave a nation at a disadvantage in terms of trade and pricing exports. This has been going on for years and US administrations have overlooked the practice. That is because it cheapens exports into the US, holds down inflation and creates buyers for Treasury and Agency bonds and US stocks and investments. Unfortunately for the US other nations have decided US debt is so onerous that they are diversifying into other currencies, purchasing items such as commodities and in some cases buying gold. The argument against gold has been that there is no interest on the investment. They perpetually do not understand that gold has been appreciating in value for the last ten years just shy of 20% annually. Thus their argument for not owning gold is incorrect. It has cost nations dearly and will continue to do so. The real reason that they do not purchase gold is because of pressure from the US government.
The most visible intervention in the currency markets was that of Japan in a desperate attempt to cheapen the value of the yen in violation of agreements with other major nations. Their manipulation into the $4 trillion Forex market was totally unsuccessful. Japan and others are faced with increases in money and credit by the Fed in its efforts to again liquefy the US economy. Any attempt to fight another $2.5 trillion by foreign nations is going to be futile. The currencies of almost every nation will rise and there is little they can do about it. The US dollar has been abandoned in an effort to save an American economy that is in serious trouble. The currency devaluations will come, but will be unsuccessful. Russia is an exception and has thus far failed to use stimulus to weaken its rouble. Every time the IMF tries to suppress gold prices with its gold sales, Russia is right there buying it up, which must infuriate the elitists in Europe and the US. Almost 2/3s of their economy’s growth loss has been due to drought and fires, but with close to $500 billion in foreign exchange, they have no trouble buying gold, which puts those reserves at close to 24 million ounces. It is an easy way to dump dollars.
Over and over again we hear central banks worldwide announcing how they are going to defend their currencies in order to keep their exports inexpensive. We wonder when someone in Washington is going to catch on to what has been perpetually done to injure the US economy? Free trade, globalization, offshoring and outsourcing doesn’t work. It has cost 8 million American jobs over the past 12 years and lowered wages from $30.00 an hour to $14.00 an hour, and caused a depression. British mercantilism has never worked except for those demeaning their currencies. The only answer for America is to impose stiff tariffs on foreign goods and services and junk NAFTA, CAFTA and the WTO. Just look at what China has done as an example. The yuan is undervalued by 40% and they could care less. They keep right on devaluing their currency and then complain about the loss in the value of the dollar and US Treasuries they buy as a result of currency manipulation. If the US is ever to survive economically they have to put an end to criminal devaluations.
Government goes on its merry way because they have a Federal Reserve. There will be no cutback in deficit spending. All the government has to do is request that the Fed purchase their debt and they do so by creating money and credit out of thin air. This is monetization and it’s inflationary. This is how government pays for mandated services. The taxes for such were already extracted from the public, but unbeknownst to most of the public these funds have already been spent. This is how Social Security, Medicare and all those other bailout services are being funded. Foreigners are buying only 25% of US government debt. The slack is and has been assumed by the Fed, which the people eventually get to pay for. Today we are in a lull, a sort of magical time, when the very superstructure of the system is being destroyed, but it is not particularly noticeable. The economy, we might add, is going sideways, with the assistance of $2.5 trillion a year. That can last for several years but in the end inflation goes rampant and sometimes becomes hyperinflation as we have seen in the Weimar Republic and most recently in Zimbabwe. Inflation, as consumers can attest to, is already climbing and the roar of higher inflation is not far off. One of the events that will kick that off will be bank lending of the funds they hold, some $1.5 trillion, which presently are sterilized, but become monetized once they are lent or spent. We can assure you that day is just over the horizon. This, once raging, will cause political, social and perhaps military conflict. If you look back in history when such problems existed those in power create another war or they subject their own people. Historically this hasn’t been difficult, but today is different, because talk radio and the Internet have allowed people to know and understand what has been and will be forced upon them and by whom.
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EU Government Faces Public Anger Over Having To Foot The Bill For The Corruption Of Big International Banks! Spain: Ten Million Workers Take Part In General Strike!
- The sovereign debt crisis is not over. I am just wondering whether the banksters will escalate the crisis to weaken the Euro and give support to the USD. I doubt so though as they seem to publicly want a weaker USD now. The public is right to be angry at the ‘rape and pillage’ by these Illuminist banksters!
Spain: Ten million workers take part in general strike
Nearly 70 percent of Spanish workers—10 million—took part in Wednesday’s general strike. In some sectors, such as mining, metal, auto manufacture, electronic, fishing and other industries, participation was nearly 100 percent. The movement also encompassed many self-employed workers and small businesses.
Although the government tried to downplay the effects of the strike, the national grid operator Red Electrica Corp. said that electricity consumption was down by 20 percent.
The strike dealt a blow to business leaders, politicians and the media who claimed it would not be well supported. But without the minimum service levels agreed by the unions, which allowed the government and local authorities to determine how many airplanes, trains and buses had to be provided, the country would have ground to a complete halt. Union leaders bent over backwards during the day to show that they were complying with minimum service agreements.
Workers went on strike in opposition to the austerity measures and anti-labour reforms implemented by the Spanish Socialist Workers’ Party (PSOE) government of President José Zapatero.
The strike was called by the Communist Party-aligned Comisiones Obreras (CC.OO) and the PSOE-dominated Unión General del Trabajo (UGT) trade union federations. It is the second major protest this year that the unions have been obliged to call. But it only went ahead after the reforms had become law, refuting claims by union leaders that they could be watered down by Congress.
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The general strike took effect shortly after midnight, when pickets descended on food wholesale markets forcing their closure in the capital, Madrid, the country’s second largest city, Barcelona; and other major cities, including Seville and Valencia.
Night shift workers at the major car plants then came out on strike. Production at GM, Ford, Citroen, Peugeot, Nissan, Seat, Volkswagen, Mercedes and Iveco ground to a halt. Workers at the National Mint, the Asturias dairies, the Castellón refinery, and the largest oil producer, Repsol, walked out. In Andalucía, fisherman stopped work. The ports of Valencia and Alicante were paralysed. Major companies in Catalonia, including Alstom, Ercros, Pirelli, Delphi, Sony and Yamaha, came to a standstill.
In Galicia, the major banks BBVA, Banco Santander, Banco Pastor and Caixanova were closed, and the main industrial areas were virtually empty. In the Basque country, where the nationalist Basque Nationalist Party has been the prop that has enabled the PSOE to push through the austerity measures in Congress, the strike appears to have had less impact.
Spain’s daily newspapers were not printed and kiosks soon closed. Regional TV station Telemadrid stopped broadcasting, as did Canal Sur, TV3 and other channels.
Eighty percent of Spain’s high-speed trains were cancelled, all mid-distance trains failed to run, and only a quarter of commuter trains were running. Although the unions ensured that Madrid Metro, which had been the scene of a total walkout by workers earlier in the year over pay cuts, operated a reduced service, regional train and bus services were at a standstill.
Only about 20 percent of inter-European flights and 40 percent of other international flights operated, again only because of minimum service agreements between unions and the government. Budget airline Ryanair, which claimed it would continue to operate, was forced to cancel the vast majority of its flights to Spain and all its internal ones. The national carrier Iberia claimed it operated the 35 percent of its flights agreed with the unions.
Universities and state schools seem to have backed the strike overwhelmingly. Garbage collecting came to a halt in all major cities. Many shops, bars and cafes closed. In Barcelona, the taxi drivers’ union said that 90 percent of its members had stopped work.
During the day, CC.OO general secretary Ignacio Fernandez Toxo declared, “The strike has been an unquestionable success”, which he claimed would force the government to back down. He meekly called on the government to revise the 2011 budget that goes to Congress today, in order to “correct the pernicious effects the labour reform is having on the labour market”.
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