2011 April 07 « Socio-Economics History Blog

Mike Maloney: The US Dollar Has Cancer, All Fiat Currencies Will Die!

April 7, 2011 Posted by mosesman | Economics | Collapse, Currency, Devaluation, Gold, GreatDepression, Hyper-inflation, Meltdown, New_World_Order, Silver, US | 1 Comment

World Banks Run on Cocaine Cash! ‘They Are All Terrorists!’

April 7, 2011 Posted by mosesman | Economics | Drugs, Fascism, GreatDepression, Terrorism, US | Comments Off

Bob Chapman: The Financial System Designed To Self Destruct! Once The Dollar is Dethroned Americans Will Have To Live on The Edges of The Economic And Financial World !

The collapse of the USD is a no brainer. The question is when? Pastor Lindsey Williams has given us the Illuminati’s schedule: by end 2012 the dollar will be dead ! The Illuminists will usher in their new Global Monetary Hegemony, One World Currency backed by gold. The world is heading towards a global monetary meltdown and hyperinflation! Got gold yet? (emphasis mine)

Bob Chapman: The Financial System Designed To Self Destruct!
As each day passes the US dollar loses prestige and its status as a world reserve currency. Washington and Wall Street pay little attention to its slide and the changes a lower dollar and loss of reserve status will bring. Once the dollar is dethroned Americans will have to learn to live on the edges of the economic and financial world. Those of you who have not read G. Edward Griffins’ “Creature from Jekyll Island” should. It tells you why the Federal Reserve was created and why the Federal Reserve was created and what its function is. It also shows you why except for Wall Street, banking and selected elitist corporations why the system was designed to self-destruct. If you read economic and financial history you will discover why such economic and financial destruction takes place repeatedly and that more often than not does not happen due to incompetence, war or error, but it is planned that way.

What has happened to the dollar since Bretton Woods and the planned removal of gold backing from the dollar is an example of deliberate destruction and in that process the destruction of the greatest nation in history. In that process of 97 years the wealthy and connected have become wealthier and powerful and have become even more so. They truly expect to exit this maelstrom and war as the leaders of the future. We have news for them. The power of talk radio and the Internet stretches worldwide and the world now understands what they are up too, and they are not going to be successful in their efforts to bring about world government. The collapse of the dollar is but one aspect in the change planned in the shift in world power.

The US budget deficit is a manifestation of the decline of America, its Executive, House and Senate 95% controlled by interests from behind the scenes. The agenda is not for the American people, the constituents, who put these people in power, but for the moneyed few who totally control them via campaign contributions, lobbying and other various nefarious means. We presently are being offered up a budget cut in a $1.7 billion budget deficit. What can the people behind the scenes be thinking of unless they want the government debt structure to implode? Virtually no change in out of control spending. The deficit is accelerating not decelerating. It is obvious that these intelligent elitists and politicians know exactly what they are doing and that is destroying the financial system and the American economy.

By the end of the year and perhaps sooner the deficit will be more than 100% of GDP, a role reserved for Banana Republics and there is no end in sight. No reality check, no control, no attempt to stop the deficit hemorrhage. War spending rages out of control, as we engage in another war. This is deliberate and very probable for the military and industrial complex, which could care less what the budget deficit climbs too. The nation is being ripped apart internally and there is no respite in sight. The government, municipalities, states, banking, Wall Street, the US Chamber of Commerce and transnationals all advocate more aid and spending, as the public demands more handouts. Nobody seems to understand that things cannot go on this way; austerity is going to be thrust upon us and there is going to be economic chaos. In the meantime nothing the Fed and the Treasury have done has done anything to solve the problems. Everything temporarily has been papered over with debt. The Executive Office for 11 years has never told the truth about fiscal debt or future fiscal debt. They tell the public what they want them to hear. Over and over again just more lies and propaganda.

The Federal Reserve group of 12 banks are about evenly split on QE3. Whether the front is just making things interesting will remain to be seen. We do know Mr. Bernanke could care less. He takes his orders from the elitists and does exactly as he is told, just like Mr. Greenspan did. He and others are in the process of destroying the US economy so that the US economy will be so bad that Americans will be forced to accept world government. That is really what this is all about. The Fed is destroying the monetary system, the President and Congress are burying the economy in debt and our transnational conglomerates along with this gang of criminals has made America uncompetitive and destroyed its industrial base. It is not any simpler than that. The dollar is not a financial or monetary refuge anymore. Its place as a world reserve currency has been destroyed and that mantel has again been assumed by gold. This is the result of deliberate insane monetary and fiscal policy that is destroying America.

The monetization in process is not just manifest in America. England, Europe, China and Japan and many others have done the same thing. The debt that has to be serviced, rolled and created is more than $5 trillion. In Europe alone the bailout of the sick 6 PIIGS will cost $4 trillion. If the solvent euro zone and European countries funded this debt they’d all end up bankrupt. Will the Fed be allowed to again bail out foreign central banks as they did three years ago? Probably not because the Fed now has to bail out the US government with more money and credit created out of thin air. The Fed, foreign central banks and other commercial banks cannot raise the trillions of dollars needed to keep the western world afloat.

We ask how can anyone accept QE3 when QE1 and QE2 have been such failures? Part of the result of such folly has been a weakening of the dollar and strengthening of gold and silver. We believe you will see QE3, because there is no way to stop. Inflation will roar this year and next and if we have QE3 and stimulus there is a good chance we’ll see hyperinflation. Close to zero interest rates and an endless supply of Treasury paper has driven away foreign buyers. Who wants to buy US 10-year T-notes yielding 3.5%, when inflation is 8% and climbing, especially when the dollar is moving lower? Two and a half years ago 66% of foreign central bank assets were in US dollar investments. Before that it was 70% and today it is 61.3%.

The Fed should have let the economy go into depression 3-1/2 years ago and purged the system. For whatever reasons that was not to be. Classical economics tells us malinvestment has to be removed from the system and the longer it takes to do that the worse the correction will be. Once a nation embarques on continued use of money and credit, inflation has to ensue and often that leads to hyperinflation. Not having solved the problems at hand a never-ending funding mechanism is put in motion in an attempt to buy time to fix the problem. As you can see thus far it has not worked. We are sure the Fed has added much more liquidity to the system already that they won’t admit too. This is why an outside independent forensic audit is needed to find out just what they have been up too.

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April 7, 2011 Posted by mosesman | Economics | Bailout, Bankruptcy, Collapse, Currency, Devaluation, Fascism, FederalReserve, Gold, GreatDepression, Hyper-inflation, Meltdown, New_World_Order, Unemployment, Unrest, US | Comments Off

Ron Paul: Gold, Commodity Prices “Big Event” Signaling Economic Collapse!

He who has the gold makes the rules!

Gold and silver are hitting record highs. Silver in particular is on a tear. I expect gold to hit US$1650-1800 and silver US$50 by June 2011. Both are signalling the devaluation of the USD and worldwide debasement of fiat currencies. Both are pointing to rising inflation –>hyperinflation!

Ron Paul: Gold, Commodity Prices “Big Event” Signaling Economic Collapse
by Kurt Nimmo www..infowars.com
Skyrocketing gold, silver, oil and other commodity prices, a brazen attempt by the Federal Reserve to monetize a staggering and deleterious debt, a precipitously falling dollar, creeping inflation – these are elements of a “big event,” Ron Paul told Alex Jones on Tuesday.

“It’s huge, and it has started,” Paul said, and it may be identified as such within 30 days. “I believe it is the beginning… you and others have been talking about commodity prices going up.” The Texas Congressman noted that even the former boss of the Federal Reserve, Alan Greenspan, has warned about out of control inflation.

“A necessary condition for long-term unemployment is low inflation,” Greenspan said recently. “If the Fed does its job and stabilizes the inflation rate, that’s the maximum that the central bank can do.”

Greenspan failed to mention the fact that when the Federal Reserve prints a new fresh new batch of fiat paper money, it unleashes a devastating round of inflation. Quantitative Easing initiated by the Fed is just that – cranking up the printing machines. It created $600 billion out of thin air to purchase Treasuries and another nearly $300 billion for mortgage-backed securities. Pumping all that money into the economy is an engine for creating inflation.

It won’t end with QE2, though. The plan to print gobs of money is open-ended. Late last year, the Fed said it will “regularly review the pace of its securities purchases and the overall size of the asset-purchase program in the light of incoming information and will adjust the program as needed.”

As Lew Rockwell noted with tongue firmly planted in cheek, it makes sense to refer to it as QE[n], because the Fed has hinted it will soon begin QE3. “These various attempts to restore the inebriated happy time have unpredictable and uncontrollable effects,” said Rockwell in mid-March. “Bernanke would drive us right into hyperinflation to save his industries. Savers living on pensions just don’t have the political clout to stop the money machine,” he added.

“Inflation is when they print the money and create the credit out of thin air,” Paul told Jones and his audience, “and then the price increases come afterwards.” Both gold and silver reached stellar new highs today based on fears that the central bank’s monetary policies will lead to an increase in interest rates in response to galloping inflation. Both China and the EU ratcheted up their interest rates modestly this week.

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April 7, 2011 Posted by mosesman | Economics | Bankruptcy, Collapse, Currency, Devaluation, Fascism, FederalReserve, Gold, GreatDepression, Hyper-inflation, Meltdown, Silver, US | Comments Off

Ron Paul: ‘Ultimately The Big One Is To Control The Money… To Have A World Wide Fiat Currency Through The IMF/World Bank Operations!’

To all those who think I am loony for repeating the assertion that the Illuminati wants a One World Currency and Global Supra-National Central Bank (IMF/BIS or World Bank), it looks like Congressman Ron Paul has joined my party! It is all about fulfilling the Luciferian plan of microchipping all humanity with ’666′ to control all buying and selling! And yes the Mystery Babylon Whore of Revelation 17 will be centred around a destroyed and remade, remodelled, re-engineered America!

Congressman Ron Paul: One Worlders Will Fall
by Steve Watson, www.infowars.com
Congressman Ron Paul, icon to liberty lovers the world over, sent a stark message this week to ruling elite “internationalists” attempting to expand globalism via the Western military industrial complex – you will fail.

Speaking on the nationally syndicated Alex Jones Show, Paul expressed his concern that a deeply malign form of globalism is being promoted and expanded on the back of international crises, namely the political upheaval in the middle east and north Africa, coupled with ongoing financial meltdown.

“The new world order people see it as an opportunity to move one step forward.” Paul stated, alluding to an infamous description of the current US led international coalition of powers.

“Bush senior bragged about that, remember he didn’t want to go to Congress, he came and got a token approval in 1990/91 for the Persian Gulf war, but he got his orders from the UN, he didn’t need to go to Congress… That was the first time I heard a president use the words ‘new world order’, anyone who used that had to be a conspiracy nut, but Bush was saying this is what we need to do for the ‘new world order’.” Paul explained.

“They go to war under NATO and the UN, not by the Congress,” Paul added. “But ultimately the big one is to control the money, so they are making their plans to have a world wide fiat currency through the IMF/World Bank operations.”

As reported in the Financial Times and elsewhere recently, the IMF strongly advocates the eventual introduction of a global currency, called the “bancor”, based on its own synthetic paper currency special drawing rights (SDRs), claiming it would “stabilise” the international monetary system.

“The new world order is certainly looking at this monetary crisis, we want the Constitution, sound money, gold and silver, but at the same time the internationalists are planning for their international fiat currency.” Congressman Paul stated.

Paul, also a member of the Joint Economic Committee, the Committee on Financial Services and the Chairman of the House Financial Services Subcommittee on Domestic Monetary Policy, believes that sound monetary policy will eventually be recognized as the solution to the financial crisis, rather than a system of global regulation and global currency being pushed by such unaccountable global bodies as the IMF and World Bank.

“They have a long way to go because what they advocate is still fake money and they have to defy the market place.” Paul said. “They may make the attempt and they may be able to cause a lot of harm in the meantime, but ultimately sound money wins out. Hopefully we do our job and liberty wins out over the tyrants.”

“The bankruptcy will bring us to our knees, but lets just hope we can put it back together in a lot better shape than we have it now.” the Congressman added.

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