James Grant: What The “FedRes is Doing is a Corruption of Central Banking And a Corruption of The Currency!”

Stephen Lendman: CIVIL WAR in America? ‘This Stuff is Really Terrifying’!

Dan Rather on George W. Bush Report: ‘We Reported a True Story—That’s Why I’m No Longer with CBS News’!

• Dan Rather on George W. Bush report: ‘We reported a true story—that’s why I’m no longer with CBS News’!
  By Dylan Stableford, http://news.yahoo.com/blogs/cutline/ 
  Dan Rather, former “CBS Evening News” host and current star of Mark Cuban’s HDNet, has been out promoting his new book, “Rather Outspoken.”
  -
  In an interview with Piers Morgan on Tuesday, Rather recalled the last conversation he had with George W. Bush after his controversial 2004 CBS News report on the former president’s Air National Guard service record.
  -
  “I was at the White House for a briefing for reporters, and I asked him a couple of questions and he answered the questions,” Rather said. “And then afterward he said to me, ‘I hope you’ll be happy retired in Austin.’ That’s my home. I had no intention of retiring in Austin. I have a passion for my work and I plunged myself back into doing work. But that’s the only conversation I’ve had with him since.”
  -
  Rather also defended the report that led to the end of his network news career. “We reported a true story,” he said. “That’s why I’m no longer with CBS News.”

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BRICS’ Sabres Rattle as Global Currency War Heats Up!

• The world is heading towards a global currency crisis. All fiat currencies, not just the USD, are heading down the path of currency debasement vis-a-vis hard asset like gold. Think hyperinflation and the destruction of fiat currencies!
  -
  Brics’ sabres rattle as global currency war heats up! 
  by Matt Quigley, http://mg.co.za/ 
  The US is escalating the risks of a currency war, Brics nations say. Matt Quigley explores the consequences if the US doesn’t “knock it off”.
  -
  As political rhetoric heats up, fears are mounting that a global currency war may escalate—concerns explicitly expressed by the Brics countries—Brazil, Russia, India, China and South Africa—in a recent communiqué.
  -
  “Excessive liquidity from aggressive policy actions taken by central banks to stabilise their domestic economies have been spilling over into emerging economies,” they wrote following a summit in India, “fostering excessive volatility in capital flows and commodity prices”. In diplomatic speak, that’s the equivalent of “knock it off”.
  -
  The implied threat—particularly from Brazil—is “or else”. Driving the point home, Brazil’s President Dilma Rousseff reiterated the group’s concerns to US President Barack Obama at meeting in Washington in April. “Expansionist monetary policies,” she said, “ultimately lead to depreciation in the value of the currencies of developing countries, thus impairing growth outlooks.”
  -
  What exactly is going on, and should South Africa worry? What is a currency war? “The first point to note is that we use the term very loosely,” John Cairns, a currency strategist at Rand Merchant Bank told the Mail & Guardian.
  -
  ‘More of a cold war than a hot war’
  At the tamest end of the spectrum, currency wars are more a battle of words than a battle of actions. Politicians, concerned about their own countries’ competitiveness in global markets, complained that other countries are gaining an unfair advantage by cheapening their currencies, making their exports cheaper than those of their competitors. Cairns characterised this type of conflict—which he said is ongoing—as “more of a cold war than a hot war”.
  -
  Brazil’s finance minister Guido Mantega first alleged that the developed world’s monetary policies were hurting emerging markets, like his own, in 2010. Brazil has been complaining about the US ever since. Meanwhile, the US is peeved at China, as is Japan. And Switzerland is far from pleased with its European neighbours. The situation is tense, but manageable.
  -
  At the other end of the spectrum is an all-out currency conflagration. This can get ugly as governments across the world deliberately devalue their currencies in an attempt to gain a competitive advantage. The problem is that devalued currencies—although they make exports cheaper—make imports more expensive, diminishing purchasing power.
  -
  These race-to-the-bottom conflicts are rare. But when they occur, they can have disastrous consequences for international trade and, in turn, global growth. The most notable example of a truly global “hot” currency wars occurred during the Great Depression.
  -
  read more!

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The Nazis Supported Zionism!

Nazis-Zionists: Two Sides of the Same Coin?

• Zionism is an Illuminist construct. At the heart of the Zionist flag is the Satanic ’666′ Hexagram (Star of David. It is an insult to the greatest King of Israel – David to call it as such. King David had nothing to do with this Satanic symbol)  It doesn’t get any clearer than this! The Christian and Jewish sheeple have been taken for a long ride. Zionist ’666′ Israel is not the Israel of the Bible! It is a Satanic counterfeit !  (emphasis & remarks mine)
  -
  Nazi Support of Zionism! 
  by http://www.jewsagainstzionism.com/
  Theodor Herzl (1860-1904), the founder of modern Zionism, recognized that anti-Semitism would further his cause, the creation of a separate state for Jews. To solve the Jewish Question, he maintained “we must, above all, make it an international political issue.”[1]Herzl wrote that Zionism offered the world a welcome “final solution of the Jewish question.”[2]In his “Diaries”, page 19, Herzl stated “Anti-Semites will become our surest friends, anti-Semitic countries our allies.”
  -
  Zionism was supported by the German SS and Gestapo.[3][4][5][6] Hitler himself personally supported Zionism.[7][8] During the 1930′s, in cooperation with the German authorities, Zionist groups organized a network of some 40 camps throughout Germany where prospective settlers were trained for their new lives in Palestine. As late as 1942 Zionists operated at least one of these officially authorized “Kibbutz” training camps[9]over which flew the blue and white banner which would one day be adopted as the national flag of “Israel”.[10]
  -
  The Transfer Agreement (which promoted the emigration of German Jews to Palestine) implemented in 1933 and abandoned at the beginning of WWII is an important example of the cooperation between Hitler’s Germany and international Zionism. [11]Through this agreement, Hitler’s Third Reich did more than any other government during the 1930′s to support Jewish development in Palestine and further the Zionist goals.
  -
  Hitler and the Zionists had a common goal:  to create a world Jewish Ghetto as a solution to the Jewish Question.
  -
  The Zionist so-called “World Jewish Congress” declared war on the country of Germany,[12][13]knowing that it would affect their Jewish brothers residing in that country who would be left without protection.  When others tried to help them escape to other countries, the Zionist movement took actions which caused those countries to lock their doors to Jewish immigration (read more in the books, “Perfidy” and “Min Hametzer“). As a result of the Zionist influence five ships of Jewish refugees from Germany arriving in the United States were turned back to the gas chambers. (No gas chambers were ever used by the Nazis to kill Jews. It is oft-repeated lie/propaganda that has deceived many good people!)
  -
  The fundamental aim of the Zionist movement has been not to save Jewish lives but to create a “Jewish state” in Palestine.
  -
  On December 7, 1938, Ben Gurion, the first head of the Zionist ‘state of Israel’ declared “If I knew it was possible to save all the children in Germany by taking them to England, and only half of the children by taking them to Eretz Israel, I would choose the second solution.  For we must take into account not only the lives of these children but also the history of the people of Israel.”[14]
  -
  On August 31, 1949, Ben Gurion stated: “Although we have realized our dream of creating a Jewish State, we are only at the beginning.  There are still only 900,000 Jews in Israel, whereas the majority of the Jewish people still remains abroad.  Our future task is to bring all the Jews to Israel.”
  -
  Of the two and a half million Jews seeking refuge from the Nazis between 1935 and 1943, less than 9% went to settle in Palestine.  The vast majority, 75%, went to the Soviet Union.  In the mid-70′s, more people emigrated out of ‘Israel’ than came in.  The only surges of immigration to the Zionist state have occurred during anti-Semitic threats and persecution in foreign countries.[15]
  -
  It follows that for the Zionist state to achieve its goal of a Jewish world ghetto anti-Semitism must be promoted and encouraged, and as we have seen, by acts of violence if necessary. Â “To attain its practical objectives, Zionism hopes it will be able to collaborate with a government that is fundamentally hostile to the Jews”.[16] The use of anti-Semitism as a tool to coerce immigration to the Zionist state continues to the present day:
  -
  Prime Minister Sharon has stated that anti-Semitism is on the rise and that the only hope for the safety of Jews is to move to Israel under the protection of the Zionist state. “The best solution to anti-Semitism is immigration to Israel. It is the only place on Earth where Jews can live as Jews,” he said.[17]
  -
  Those who continue to call the so-called “state of Israel” the “Jewish State” are not only promoting Zionism which is contrary to the beliefs of true Judaism, but also endorsing the promotion of worldwide anti-Semitism. In doing so they are endangering the lives of traditional Jews and denying their civil liberties and human rights. 
  -
  When the British foreign secretary, Arthur Balfour (sponsor of the 1905 Aliens Act to restrict Jewish immigration to the UK), wanted the British government to commit itself to a Jewish homeland in Palestine, his declaration was delayed – not by anti-Semites but by leading figures in the British Jewish community. They included a Jewish member of the cabinet who called Balfour’s pro-Zionism “anti-Semitic in result”. Â In contrast, a great statesman like Secretary of State Colin Powell, a supporter of traditional Judaism, has the courage to separate Judaism from Zionism and to acknowledge that speaking out against the actions of the Zionist state is not “anti-Semitism”.
  -
  We call upon our leaders in Washington to disassociate the actions of the Zionist state from traditional Judaism by no longer referring to “Israel” as the “Jewish State” but as “the Zionist State” and to speak out against the Zionist actions which promote anti-Semitism.

Daily Express 1933: Only 600,000 Jews in Germany!

Zionists signed agreement with Nazi Germany-Hitler!

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Haaretz: For Israel, Punishing Palestinians is Not Enough!

Genocide and Ethnic Cleansing by Zionist ’666′ Israel !!!

• Emphasis mine:
  -
  For Israel, punishing Palestinians is not enough! 
  By Amira Hass, http://www.haaretz.com/ 
  An ongoing hunger strike by nearly 2,000 Palestinian inmates stands as a reminder of their humanity, but Israelis are more interested in revenge.
  -
  In faraway, frozen Finland – otherwise known as the infirmary of Ramle Prison – the lives of four detainees who have been on a hunger strike for at least 60 days hang in the balance. Nearly 2,000 inmates in the Nafha, Ashkelon, Gilboa and other prisons around Israel have been on hunger strike for two weeks. The very fact of their decision to refuse food and their willingness to risk being punished by the authorities stands as a reminder of their humanity.    
  -
  The Israel Prison Service does not have to make much of an effort to conceal this mass action from Israeli eyes. The great majority of Israelis label all incarcerated Palestinians as conscienceless murderers or common terrorists, at the least. They have little interest in acts of personal or collective courage on the part of Palestinian detainees that serve as reminders that they are human beings.    
  -
  Administrative detainees have been held without trial for years under emergency regulations inspired by the British Mandate. It’s not important. Hundreds of prisoners from the Gaza Strip haven’t seen their families for six or more years. Why should anyone care?    
  -
  When Gilad Shalit was in captivity in Gaza, the cancelation of visits for Gazan prisoners in Israel was presented as “proportionate pressure.” After his release, Israelis don’t care that this sort of proportionality goes on, and that family visits were not restored. So what? Why should we care that Palestinians are kept in isolation for years on end and barred from seeing their families for three, five or 10 years? Any normal prison administration would welcome prisoners’ demand to go back to studying through the Open University. Studies reduce stress and tension levels in prison. But the name of the game here is submission.    
  -
  Palestinian prisoners are given names and faces in the Israeli news media only if they can demonstrate their “contemptibility.” Their names and faces are not mentioned in the context of their personal, family and national history for more than 60 years: expulsion, exile, destruction of their homes, the injury and killing of friends and family members by Israeli soldiers, or trifles such as beatings by soldiers or expropriation of their land by government officials.    
  -
  Palestinian prisoners are mentioned in terms of the number of life sentences they are serving. But Israel’s revered army generals, retired and on active duty, are responsible for killing many more Palestinian (and Lebanese ) civilians than the number of Israeli civilians killed by the Palestinian prisoners.    
  -
  History – praise be to Clio, the Greek muse of history – is no longer written only by the victors. But the conquerors still decide who is the hero, who is the soldier who acts as the judge and who is the defendant who is declared a terrorist even before he is convicted. The Palestinians are not recognized as prisoners of war whose weapons are less advanced, less sophisticated than those of their jailers.    
  -
  Israelis are not satisfied with the various measures to worsen their prison conditions. When it comes to Palestinians, punishment is not enough. Prison must also be never-ending revenge that extends what Israel tries to do outside its walls as well: to break up the collective, to weaken the individual, to deter others from resistance to the foreign regime.    
  -
  The hunger strike is, in effect, a protest against these goals. Not all of the Palestinian prisoners have joined it. In prison, as outside of it, Palestinian political and social cohesion has declined, and many of the inmates lack the cultural and social awareness of their predecessors. Nevertheless, the hunger strike underlines the fundamentally political nature of the collective of Palestinians incarcerated in Israel.

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

• The 13th Tribe of Khazaria! Ashkenazi Khazars Are Not The Jews of The Bible!
  If almost 98% of JEWS we know today are NOT semitic, wouldn’t the term ANTI-SEMITIC be null and void? I made this video with 3 Jewish friends who admit they are not Semites!!!!
  -
  “Many [modern-day Jews] of whom have clamored to go back [to Palestine] NEVER had antecedents [physical ancestors] in that part of the world …. The OVERWHELMING majority of Jews are descendants from the converts of Khazaria and elsewhere who ADOPTED Judaism…. This VIEW of the NON-ethnicity of the largest portion of Jewry IS SUSTAINED by such prominent anthropologists as Ripley, Weissenberg, Hertz, Boas, Pittard, Fishberg, Mead and others. . “
  - Dr. Alfred M. Lilienthal
  -
  “… Though many Jews are NOT of Semitic origin, we are the religious, spiritual, and national [but NOT genetic] descendants of those who first formed the early foundations of Judaism who were Semites”
  - Rabbi Cyril A. Stanway in “Viewpoints,” Thursday, November 8, 1990, in the Sun-News (Las Cruces, New Mexico)
  -
  “. . these Eastern European, Yiddish-speaking Jews who form the Zionist group practically in toto [almost entirely], have NEITHER a geographic, historic NOR ethnic connection with either the Jews [Israelite Judahites] of the Old Testament OR the land known today as Palestine. “
  - Jewish Dr. Benjamin H. Freedman, published by the National Economic Council, Inc. as “Council Letter No. 177 (October 15, 1947)
  -
• Modern Judaism is not the religion of the Bible! See here!
• Modern Ashkenazi Jews are not the Jews of the Bible! God’s covenant was with Abraham and his biological descendents. Ashkenazi Jews are not semitic and their ancestors were never in Palestine. They are not the descendents of Abraham/Isaac/Israel. They have no right to stay in Palestine. What the Zionists are doing to the Palestinians is called: genocide and ethnic cleansing! Zionist ’666′ Israel is not the Israel of the Bible! It is a LIE!
  -
  1980 Jewish Almanac
  “Strictly speaking it is incorrect to call an ancient Israelite a ‘Jew’ or to call a contemporary Jew an Israelite or a Hebrew.” (1980 Jewish Almanac, p. 3)
  .
  The Jewish Encyclopedia:
  “Khazars, a non-Semitic, Asiatic, Mongolian tribal nation who emigrated into Eastern Europe about the first century, who were converted as an entire nation to Judaism in the seventh century by the expanding Russian nation which absorbed the entire Khazar population, and who account for the presence in Eastern Europe of the great numbers of Yiddish-speaking Jews in Russia, Poland, Lithuania, Galatia, Besserabia and Rumania.”
  .
  The American Peoples Encyclopedia … for 1954 at 15-292 records the following in reference to the Khazars: “In the year 740 A.D. the Khazars were officially converted to Judaism. A century later they were crushed by the incoming Slavic-speaking people and were scattered over central Europe where they were known as Jews.
  -
  According to the standard Jewish Encyclopedia 96% of all the Jews known to the world today are descendents of the Khazar tribes of Russia, Eastern Europe and western Mongolia.
  -
• The Bible specifically forbids the ill-treatment of people different from us ie: strangers. What Zionist ’666′ Israel does to the Palestinians is called: genocide and ethnic cleansing! Zionist ’666′ Israel is in total violation of God’s law!
  -
  Exodus 22:21
  “You shall neither mistreat a stranger nor oppress him, for you were strangers in the land of Egypt.”
  Exodus 23:9
  “Also you shall not oppress a stranger, for you know the heart of a stranger, because you were strangers in the land of Egypt.”
  Leviticus 19:33
  ‘And if a stranger dwells with you in your land, you shall not mistreat him.’
  Leviticus 19:34
  The stranger who dwells among you shall be to you as one born among you, and you shall love him as yourself; for you were strangers in the land of Egypt: I am the LORD your God.
  Leviticus 23:22
  ‘When you reap the harvest of your land, you shall not wholly reap the corners of your field when you reap, nor shall you gather any gleaning from your harvest. You shall leave them for the poor and for the stranger: I am the LORD your God.’
  Leviticus 24:22
  You shall have the same law for the stranger and for one from your own country; for I am the LORD your God.
  Ezekiel 47:22-23
  ²² It shall be that you will divide it by lot as an inheritance for yourselves, and for the strangers who dwell among you and who bear children among you. They shall be to you as native-born among the children of Israel; they shall have an inheritance with you among the tribes of Israel. ²³ And it shall be that in whatever tribe the stranger dwells, there you shall give him his inheritance,” says the Lord GOD.
  -
• The so-called Star of David is a Satanic symbol. Satanists and occult practitioners use it for calling Satan and demons!
  -
  Former Satanist, Bill Schnoebelen (now born again Christian)
  “A hexagram must be present to call forth a demon” and ” it is a very powerful tool to invoke Satan”. – “To the sorcerer, the hexagram is a powerful tool to invoke Satan.” In fact, the word “hex” — as to put a “hex” or “curse” on people — comes from this word. – If you examine the so-called “Star of David,” or hexagram, closely, you will discover something astonishing. It has six points, forms six equilateral triangles, and in its interior forms a six sided hexagon — thus it reveals the number of Satan’ antichrist beast, — 6 points, 6 triangles, and the 6 sides of the hexagram — 666 !!!
  -
• See also:
  -
  History of The “Six Million” Myth!
  Bolshevik Jews Plotted The Ukrainian Holocaust!
  The Jewish Genocide of 1.4+ Million Armenian Christians!
  The Bolshevik Jews Behind The Deaths of 40+ Millions During The Communist Revolution!
  YNET Israel News: Stalin’s Jews. We Mustn’t Forget That Some of Greatest Murderers of Modern Times Were Jewish!
  Bolshevik Jews Plotted The Ukrainian Holocaust!
  Mark Weber: The Jewish Role in the Bolshevik Revolution and Russia’s Early Soviet Regime! During Which 20+ Million Russians Died !
  The Hidden History of Jewish Bolshevism & Freemasonry! How Masonic Wall Street Banksters Financed The Communist Revolution Which Killed Over 100 Million People!
  Mark Weber: Wilhelm Höttl And The Elusive ‘Six Million’! Part 2 – How Many Jews Died?
  Ashkenazi Khazars (90+% of modern Jewry) are not the Jews of the Bible!
  Benjamin Freedman: Ashkenazi Khazars Self Style “Jews” Are Not Semitic And Not The Biological Descendents of The 12 Tribes of Israel !
  The 2002 Jenin Holocaust of Palestinians By Zionist ’666′ Israel !
  Deir Yassin Remembered ! The 1948 Holocaust of Palestinians by Zionist ’666′ Israel !
  Jewish Historian Ilan Pappe: History of Zionism – Genocide And Ethnic Cleansing of Palestine!
  Jenin Massacre
  Jewish Historian Teddy Katz: 1948 Tantura Massacre of Palestinians! Genocide And Ethnic Cleansing!
  Zionist ’666′ Israeli Apartheid and The Nakba!
  Forget Deir Yassin: Its Victims Were “Unworthy”! The Holocaust of Palestinians by Zionist ’666′ Israel !
  Holocaustianity: Zionism’s Big Lie!
  Texe Marrs: Conspiracy of The 6 Pointed Star!
  Repost: Holocaust, Hate Speech & Were the Germans so Stupid?
  Jack Bernstein: The Life of an American Jew in Racist Marxist Israel !
  Peace, Propaganda & The Promised Land ! US Media And The Israeli-Palestinian Conflict!
  ’666′ Star of David, Satanic Curse / Hex(agram) On Humanity! Occult Symbol.
  The Historical Truth About Auschwitz!
  Jewish Estimate Sees Number of Holocaust Dead Drop To 2.8 Million!
  Fred Leuchter: The End of The Auschwitz Gas Chambers Myth!
  Fred A. Leuchter, Jr.: Inside the Auschwitz ‘Gas Chambers’!
  The Rudolf Report: Expert Report on Chemical and Technical Aspects of the ‘Gas Chambers’ of Auschwitz!
  Barbara Kulaszka: What is ‘Holocaust Denial’?
  How Many Died At Auschwitz?
  How the Illuminati Manipulates Jews!
  Hitler Was A Rothschild Jew?!
  Norman Finkelstein on Zionism And The Holocaust Industry!
  Holocaust Denier Death, Mossad Linked. How Many Jews Died in the German Concentration Camps?
  Gideon Levy: Ethnic Cleansing of Palestinians, Or, Democratic Israel At Work?!
  Israel Admits It Covertly Canceled Residency Status of 140,000 Palestinians!
  Flashback 1990: Holocaust Expert Rejects Charge That Nazis Made Soap From Jews!

“ … it turns out the creation of Israel had not, after all, been a haphazard fight in which the Arabs fled their homes at the directives of their own leaders, but it had been an unprovoked, systematic campaign of ethnic cleansing by the Jewish militia involving massacres, terrorism and the wholesale looting of an entire nation.” - from 4:22 onwards

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How The Federal Reserve Bought The Economics Profession!

Don’t you see the Illuminist pyramid and Satanic capstone on your dollar bill?

• Priceless: How The Federal Reserve Bought The Economics Profession! 
  by Ryan Grim, http://www.huffingtonpost.com/ 
  The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found.
  -
  This dominance helps explain how, even after the Fed failed to foresee the greatest economic collapse since the Great Depression, the central bank has largely escaped criticism from academic economists. In the Fed’s thrall, the economists missed it, too.
  -
  “The Fed has a lock on the economics world,” says Joshua Rosner, a Wall Street analyst who correctly called the meltdown. “There is no room for other views, which I guess is why economists got it so wrong.”
  -
  One critical way the Fed exerts control on academic economists is through its relationships with the field’s gatekeepers. For instance, at the Journal of Monetary Economics, a must-publish venue for rising economists, more than half of the editorial board members are currently on the Fed payroll — and the rest have been in the past.
  -
  The Fed failed to see the housing bubble as it happened, insisting that the rise in housing prices was normal. In 2004, after “flipping” had become a term cops and janitors were using to describe the way to get rich in real estate, then-Federal Reserve Chairman Alan Greenspan said that “a national severe price distortion [is] most unlikely.” A year later, current Chairman Ben Bernanke said that the boom “largely reflect strong economic fundamentals.”
  -
  The Fed also failed to sufficiently regulate major financial institutions, with Greenspan — and the dominant economists — believing that the banks would regulate themselves in their own self-interest. Despite all this, Bernanke has been nominated for a second term by President Obama.
  -
  In the field of economics, the chairman remains a much-heralded figure, lauded for reaction to a crisis generated, in the first place, by the Fed itself. Congress is even considering legislation to greatly expand the powers of the Fed to systemically regulate the financial industry.
  -
  read more!

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Draconian Re-Education Camps for Political Activists Are Real !

Joel Skousen: NATO Expansion into Russian Satellite States will Backfire!

Joel Skousen: Army Document Reveals Citizens To Be Treated as Enemy Combatants!

US, Iran Rhetoric Must Die Down To Avoid Conflict !

Keiser Report: Bribe Masters on Shopping Spree!

World To Be Dominated by China-US Relations!

Au Revoir Sarkozy: Hollande Wins French Presidency!

Peter Schiff: US Treasurys Are ‘Junk,’ Dollar Headed for Collapse!

• US Treasurys Are ‘Junk,’ Dollar Headed for Collapse: Schiff!
  By Jean Chua Writer, www.CNBC.com 
  The greenback and the U.S. bond market are headed for a collapse as the U.S. Federal Reserve loses the ability to service the nation’s debt with “artificially low” interest rates, Peter Schiff, CEO of Euro Pacific Capital told CNBC on Wednesday.
  -
  “As far as I am concerned, U.S. Treasurys are junk bonds,” Schiff said on CNBC Asia’s “Squawk Box.”“And the only reason that the U.S. government can pay the interest on the debt, and I say ‘pay’ in quotes because we never pay our bills. We borrow the money so we pretend to pay, but the only reason we can do it is because the Fed has got interest rates so artificially low.”
  -
  The Fed has been keeping rates on benchmark 10-year Treasurys low by purchasing bonds via quantitative easing (QE) , and this will ultimately be the U.S. economy’s “undoing,” Schiff said.
  -
  “Unfortunately, we are going to get more QE than Rocky movies, because the only thing keeping this phony economy going is this QE,” he said. “And the minute you take it away, it’s going to collapse.”
  -
  Schiff’s comments come after two Fed officials warned on Tuesday that the U.S. could be heading for a “fiscal cliff” at the end of the year if mandated tax increases and spending cuts are implemented. On the same day, fund manager Bill Gross, who runs the world’s biggest bond fund, told CNBC that the U.S. will face a downgrade of its triple-A debt rating if it did not fix its fiscal situation.
  -
  read more!

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