“You get a big enough failure somewhere and you’ll see the entire system close within 48 hours.” – Bill Holter
The quote above comes at approximately the 18:20 minute mark in the wide-ranging interview below where Dave from X22 Report is joined by finanical writer Bill Holter of JS MineSet as they discuss the current news economic news which includes quite a few bombshells indicating to Holter that “This is the end game,” stating the “these are the end days of the current system,” and that he is “not so sure we are going to get to October” before the entire system closes.
Dave and Bill start off talking about the recent Deutsche Bank settlement where for the first time it is admitted that they and other institutions have been deliberately manipulating Gold and Silver markets, as well as basically turning states evidence and agreeing to name others that have been doing the same thing, as Holter details exactly what this means in the overall scheme of things.
Via Sputnik News:
Remarkably, on April 14 Deutsche Bank admitted the fact that it had been involved in the conspiracy together with other members of a “cartel” and agreed to name the names in the US federal court.
The do return to the issue of precious metals later in the interview as Holter explains, in terms those of us that are not financial gurus can easily understand, the importance that gold and silver are going to play once the current economic system collapses around us and specifically what it means for every American holding on to the dollar.
Before that, Holter speaks about the stock market manipulation, global economies including the U.S. softening, and highlighting the recent threat by the Saudi’s where they said if the U.S. releases the 28 pages of the 9/11 report that allegedly implicates them in the September 11, 2001 terrorist attack in America, they would dump $750 billion in U.S. assets.
Holter states that what the Saudis are saying is the “Petro-Dollar is dead” and the Saudis will no longer use it for oil, stating that other countries will follow suit, leading to the full collapse of the dollar.
Another point specifically detailed in the interview below is the Fed emergency meetings held by the White House, which Holter believes stems from not only the topics discussed above, but included what emergency steps could be taken from keeping the “time bomb” from blowing up.
The topic turns to the retail GDP, corporate earning reports and how they don’t look good and when Holter is asked “what the Fed can do” he responds “nothing the Fed can do… but print.” Holter continues on to say “Low rates, negative rates and print, print, print,” before explaining that “The Fed cannot support the dollar” any longer.
This is where we get to the highlighted quote at the top of this article, when Dave wonders if the system will last until October and Holter states he is “not so sure we are going to get to October,” as he adds, a failure, a “big enough failure somewhere and you’ll see the entire system close within 48 hours.”
Holter then explains the difference between real money versus fake money, stating the fiat currenncy, whether the Dollar, Euro or Pound is fake, nothing backing it while precious metals he described as real, stating “real capital” that takes “real labor and real machinery” to dig gold and silver out of the ground, while paper money costs nothing, just a keystroke to continue printing, which he calls worthless.
Chinese woman sues US Federal Reserve over shrinking cash
US Federal Reserve facing action from Chinese woman US Federal Reserve facing action from Chinese woman
A woman in China is trying to sue the US Federal Reserve after discovering that the real value of the $250 she put in an account in 2006 had shrunk by 30%.
She claims it was a result of the Federal Reserve issuing too much money.
Her lawyer, her son Li Zhen, called the lawsuit “litigation for the public good” which aimed to stop the Fed from continuing its quantitive easing policy and promote people’s awareness of their rights.
He filed the lawsuit alleging “the abuse of monopoly in issuing currency” last month on behalf of his mother, Liu Hua, but the court has yet to decide whether to officially place the case on file.
Since the global financial crisis, the Fed has been pumping more money into the economy via several rounds of quantitative easing to try to boost consumer spending and revive economic growth.
Li said he referred to Black’s Law Dictionary, the most cited legal dictionary in the US, and concluded that the Fed is a private institution instead of a government department.
According to the dictionary, US financial institutions are required to invest in the Federal Reserve System if they want to join it, which he construed as meaning the Fed is privately owned.
“Since the Fed is a private institution which enjoys a monopoly over the issuing of currency, US dollar holders can sue it for printing too much money,” he said.SOURCE
Intelligence Insider: Obama Administration Agenda to “Kill U.S Dollar”
“We’re just going to kill the dollar.”
This week, I had a series of very sobering discussions with my highly-placed source within the intelligence world. The information he provided hit me like a proverbial tons of bricks. It connects everything we are seeing play out across the world, from the economic problems in Europe to the U.S. DHS ammunition acquisition orders and even the “gun control” debate. If you’re like me, you’re looking for clarity, context and focus with regard to all of the events we’re constantly hearing about but seem to lack legitimate explanation. I believe this report will provide the context and clarity we are all seeking, but I must warn you that the picture is not pretty.
Submitted by Douglas Hagmann
Some might be surprised to learn that the fate of America’s economy has already been determined, verified and announced by the Obama White House. Yet, it has received scant attention from the corporate media. In 2011, economist Kyle Bass interviewed a senior member of the Obama administration about its planned solutions for fixing the US economy and trade deficit[ia].
Among the questions he asked was about U.S. exports and wages, but the question itself was not nearly as important as the response he received from this senior administration official. In fact, this single, seven word response clarifies everything, explains everything, and leaves little else to discuss: “We’re just going to kill the dollar.”
There it is, the entire agenda in one short sentence. It explains everything we’ve been seeing domestically and globally. That one statement makes every other question irrelevant, or otherwise answers all economic questions and explains everything. Nothing else matters. I urge you to ponder that statement and all that it implies. Doing so will provide you with the clarity to understand not only what is taking place today, but what is yet to come.
Murder & High Treason
It is important to note the specificity of the word “kill.” Stated in the active voice, it means an unambiguously intentional and deliberate act. The murder of our national currency, the United States Dollar (USD), is the ultimate agenda to be implemented under Obama. To “kill” our national currency will subvert the United States and destroy it from within. This begs a number of questions, including what type of Americans would actually have, as their objective, the destruction of our national currency? To whom do they hold their allegiance, if not to the American people whose life’s work as well as the toil of our ancestors is represented in the form of wealth held in U.S. dollars? Does this make any sense to us, as Americans? The answer of course is “no.”
By its very definition, to kill our national currency is an act of high treason by those engaged in this activity. It undermines the very sovereignty and survival of our nation, and will have a life-changing impact on every citizen in the U.S. It will also impact every nation and the people of every nation on the planet, as the USD is presently the world’s reserve currency. It is an act that should result in the filing of criminal charges against the conspirators, a trial of their peers and if convicted, a death sentence. It’s that serious.
According to my source, we are past the point of no return. We will not be able to stop what is coming, but must be wise enough to prepare and “get out of the way.” The murder plot involving the death of the dollar did not begin with Obama, but he and other conspirators have accelerated the plans, plots and schemes for its demise.
The ultimate objective
The ultimate objective is to implement an international currency in tandem with a system of global governance. The problem is that most people are not thinking large enough, nor do they understand the magnitude of the lie. They are not seeing the larger picture as their focus is diverted elsewhere. For example, they focus on various tentacles of the octopus such as the gun confiscation initiative, the DHS armament acquisitions and economic woes as independent and unrelated events. They are not.
Meanwhile, others continue to adhere to, or even perpetuate the dual party meme of governance, holding dearly to the notion that there is a practical difference between the Republican and Democrat parties. Have we not seen sufficient evidence that they are now of one party acting in concert with each other? They cannot see the collusion and backroom deals, and continue to hope that the next election will finally change the unchangeable continuity of agenda.
Most of the elected officials are on-board with the subjugation of the United States to a global system of governance. Some are actively facilitating this agenda, while others are making nominal objections on the stage of political theater while hoping to earn a seat at the global table. It’s entertainment for the globalists, distraction of the masses, and diversionary fodder for the talking heads in the media.
America has become a captured operation – captured from within. Think of the Vichy French, internal collaboration with the enemy, or softening the ground for a full takeover from within. The takeover of America has already happened, the collaborators have already been installed, and we are now on a path to complete subjugation of a larger global system of governance. If you continue to doubt this, how else would you explain the numerous examples of our dual-party governmental acquiescence of self destruction?
“Signs, signs, everywhere signs…”
Those who are pleased about the new record setting stock-market highs and various other manipulated statistics that indicate our economy is improving will be the most vocal critics of this report and who will attempt to discredit the validity of the information offered here. The more intellectually astute will look beyond the statistics offered for mass consumption not only to identify the deliberately manipulated data, but to understand what is actually driving these false hopes, figures and data. It is a magic show, and many are still captivated by the magicians’ many diversions, failing to realize that we are engaged in a global war while being simultaneously hobbled by enemy infiltrators from within.
One reason we are seeing new stock market highs is the rush to the dollar from other currencies, especially in the Eurozone. Another reason is the monetization of our debt by the Federal Reserve, despite the previous denials of Ben Bernanke and others.
Simply put, the plan by the globalists, or the central bankers and those behind them, is to create this rush to the USD like passengers from sinking ships to lifeboats. Once the lifeboats are filled to capacity, they will be sunk, and the United States Dollar will be completely worthless. As in such a scenario, many will not make it. Many will die from what is coming. The level of evil behind this plan is incomprehensible to the normal human mind.
Russia, China, Syria and Iran
As I detailed in my multiple reports about Benghazi, we are at war with Russia. After removing Qaddafi from power in Libya, the Obama-Clinton black-ops plan was immediately put into action. Benghazi was the logistics hub for arming the anti-Assad terrorists by our own State Department covert operatives who were shipping millions of tons of weapons to Syria via Turkey and other staging areas. Russia was aware of our actions, and through the attack at the CIA operations center in Benghazi by proxy forces, exposed this operation to the world while putting a stop to this operation. It seems that everyone except the Western media reported what had taken place.
The “dirty little secret” that explains why we have not been told the truth about Benghazi is quite simple. The efforts to overthrow Assad from power are continuing, except the arms and munitions shipments are now originating primarily from Croatia. Overthrowing Assad would pose a direct threat to Russia, both militarily and economically. Are we to expect Russia’s Putin to simply accept this without response? No. So what is Russia doing to subvert our efforts? He is waging war against America, striking at the weak underbelly of our economy which is the “oil backed” dollar as identified in Michael Reagan’s article, Building on a Kernel of Truth.
Sadly, the Obama regime is doing nothing to protect us from this asymmetrical war. It’s as if they are allowing it to take place.
Although it was reported in The New York Times, few have paid attention to last week’s meeting between Chinese President Xi Jinping and Russian President Vladimir Putin in Moscow, but it was an extremely important event in terms of the planned murder of the U.S. dollar. An alliance is being forged between Russia and China to replace the USD as the reserve currency, already severely weakened by the policies of those in power, with a gold backed currency. Russia and China are hoarding gold to levels never before seen, while the U.S. issues worthless paper and digital currency backed by… nothing, save for the “oil-backed” scenario.
While reports do exist that cite the hoarding of gold by China and Russia, they are purposely under reporting their collective reserves. Meanwhile, Americans can’t even get honest answers to the amounts of our own gold reserves held in Fort Knox or the Federal Reserve. Don’t people find this reluctance for audit and inspection a bit curious if not outright suspicious?
The battle is being waged not only by military might but by a currency war. We are “being played” through our military involvement in the Middle East, including our covert operations against Syria at the behest of Saudi Arabia. Unlike Iraq, the war in Syria will explode, turn hot, and we will be engaged in an ominous battle that will quickly expand and turn deadly. Weakened militarily through the policies of the Obama regime, coupled with an already weakened economy, the U.S. will suffer consequences unlike anyone might imagine or is willing to address. It is a recipe for disaster planned and initiated by the global elite behind the central banking system, including those in our own government. We have been set up from within, lied to, and now, we are about to see exactly what this globalist system has in store for not only the United States, but every nation of the world.
It is critical to understand that the take-down of the U.S. will be the result of an asymmetrical war that includes the weakening of our military, our economy, and a direct assault on our ability to keep the dollar as the world reserve currency and protect the free flow of oil and energy to the United States.
Within the last week, China held a surprise naval exercise in the South China Sea. Meanwhile, Russia displayed their resurgent military night in the Black Sea. These exercises were conducted as U.S. military forces are spread thinly across many areas in the world. Is anyone paying attention here?
Just as certain a collapse of the dollar is coming, so will be chaos on the streets of America caused by this plan “to kill the dollar.” The central bankers and the leaders selected to govern each country have effectively used the Hegelian Dialectic[ii] to implement their agenda. Just as stated by George H.W. Bush on September 11, 1990, their predetermined solution of a “New World Order” is being formed before our very eyes. They’ve told us what they are doing, but we have chosen not to listen or failed to understand what was being said.
The U.S. has always been the firewall against the globalists. By their persistence, infiltration of global elitists into our government, and covert subversion from within, we are being led to slaughter. A view from space, looking at the larger picture of events for which many have questions, a clearer picture emerges. There will be some who dare to resist the pillaging of our bank accounts, the erosion of our rights, and the enslavement that comes with the dismantling of America.
The dust clouds visible on the far horizon that watchmen have been reporting for decades can now be seen as an attacking army of barbarians, whose fighters are now on the ladders and cannons are breaching our empire’s outer walls. Who knows how long the inner walls of our empire will survive the next wave of their coming attack.
Perhaps Ernest Hemmingway said it best in referencing John Donne from his novel of the same name… “And therefore never send to know for whom the bell tolls; It tolls for thee.”
By Douglas Hagmann
Douglas J. Hagmann and his son, Joe Hagmann host The Hagmann & Hagmann Report, a live Internet radio program broadcast each weeknight from 8:00-10:00 p.m. ET.
Douglas Hagmann, founder & director of the Northeast Intelligence Network, and a multi-state licensed private investigative agency. Doug began using his investigative skills and training to fight terrorism and increase public awareness through his website.SOURCE
The U.S. economy is dying and most American voters have no idea why it is happening. Unfortunately, the mainstream media and most of our politicians are not telling the truth about the collapse of the economy. This generation was handed the keys to the greatest economic machine that the world has ever seen, and we have completely wrecked it. Decades of incredibly foolish decisions have left us drowning in an ocean of corruption, greed and bad debt. Thousands of businesses and millions of jobs have left the country and poverty is exploding from coast to coast. We are literally becoming a joke to the rest of the world. It is absolutely imperative that we educate America about what is happening. Until the American people truly understand the problems that we are facing, they will not be willing to implement the solutions that are necessary.
The following are the top 100 statistics about the collapse of the economy that every American voter should know….
#100 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.
#99 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.
#98 Since Barack Obama was sworn in, the share of the national debt per household has increased by $35,835.
#97 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.
#96 It is being projected that the U.S. national debt will hit 344% of GDP by the year 2050 if we continue on our current course.
#95 The Congressional Budget Office is projecting that U.S. government debt held by the public will reach a staggering 716 percent of GDP by the year 2080.
#94 In 2010, the U.S. government paid $413 billion in interest on the national debt. That is projected to at least double over the next decade.
#93 According to one new survey, one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.
#92 State and local government debt has reached an all-time high of 22 percent of U.S. GDP.
#91 In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for 18.4% of all income.
#90 U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes.
#89 According to a new study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.
#88 If you can believe it, one out of every seven Americans has at least 10 credit cards.
#87 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.
#86 The cost of a health insurance policy for the average American family rose by a whopping 9 percent last year, and according to a report put out by the Kaiser Family Foundation and the Health Research and Educational Trust, the average family health insurance policy now costs over $15,000 a year.
#85 One study found that approximately 41 percent of working age Americans either have medical bill problems or are currently paying off medical debt.
#84 An all-time record 49.9 million Americans do not have any health insurance at all at this point, and the percentage of Americans covered by employer-based health plans has fallen for 11 years in a row.
#83 According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States. Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance.
#82 Average yearly tuition at U.S. private universities is now up to $27,293.
#81 The cost of college tuition in the United States has gone up by over 900 percent since 1978.
#80 In America today, approximately two-thirds of all college students graduate with student loans.
#79 In 2010, the average college graduate had accumulated approximately $25,000 in student loan debt by graduation day.
#78 The total amount of student loan debt in the United States now exceeds the total amount of credit card debt in the United States.
#77 One-third of all college graduates end up taking jobs that don’t even require college degrees.
#76 In the United States today, there are more than 100,000 janitors that have college degrees.
#75 In the United States today, 317,000 waiters and waitresses have college degrees.
#74 In the United States today, approximately 365,000 cashiers have college degrees.
#73 It is being projected that for the first time ever, the OPEC nations are going to bring in over a trillion dollars from exporting oil this year. Their biggest customer is the United States.
#72 U.S. oil companies will bring in about $200 billion in pre-tax profits this year. They will also receive about $4.4 billion in specialized tax breaks from the U.S. government.
#71 The United States has had a negative trade balance every single year since 1976, and since that time the United States has run a total trade deficit of more than 7.5 trillion dollars with the rest of the world.
#70 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.
#69 The U.S. trade deficit with China is now 27 times larger than it was back in 1990.
#68 Today, the United States spends more than 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.
#67 China has surpassed the United States and is now the largest PC market in the entire world.
#66 In 2002, the United States had a trade deficit in “advanced technology products” of $16 billion with the rest of the world. In 2010, that number skyrocketed to $82 billion.
#65 In 2010, the number one U.S. export to China was “scrap and trash”.
#64 Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe? Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.
#63 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
#62 If you can believe it, more than 42,000 manufacturing facilities in the United States have been closed down since 2001.
#61 Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.
#60 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.
#59 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades.
#58 If you gathered together all of the workers that are “officially” unemployed in the United States today, they would constitute the 68th largest country in the world.
#57 There are fewer payroll jobs in the United States right now than there were back in 2000 even though we have added 30 million extra people to the population since then.
#56 Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job. In July, only 81.2 percent of men in that age group had a job.
#55 Only 55.3% of all Americans between the ages of 18 and 29 were employed last year. That was the lowest level that we have seen since World War II.
#54 Today, there are 5.9 million Americans between the ages of 25 and 34 that are living with their parents.
#53 The economic downturn has been particularly tough on men. According to Census data, men are twice as likely to live with their parents as women are.
#52 According to one recent survey, only 14 percent of all Americans that are 28 or 29 years old are optimistic about their financial futures.
#51 Incredibly, less than 30 percent of all U.S. teens had a job this summer.
#50 According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for inflation.
#49 Since the year 2000, we have lost approximately 10% of our middle class jobs. In the year 2000 there were about 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.
#48 In 1980, 52 percent of all jobs in the United States were middle income jobs. Today, only 42 percent of all jobs are middle income jobs.
#47 Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs.
#46 According to Paul Osterman, a professor of economics at MIT, approximately 20 percent of all employed Americans are making $10.65 an hour or less.
#45 Half of all American workers now earn $505 or less per week.
#44 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.
#43 New home sales in the United States are now down 80% from the peak in July 2005.
#42 The all-time record for fewest number of new homes sold in the United States was broken in 2009. Then it was broken again in 2010. It is on pace to be broken once again in 2011.
#41 At one point this year, U.S. home prices had fallen a whopping 33% from where they were at during the peak of the housing bubble.
#40 U.S. home values have fallen approximately 6 trillion dollars since the housing crisis first began.
#39 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant. That figure is 63 percent larger than it was just ten years ago.
#38 Historically, the percentage of residential mortgages in foreclosure in the United States has tended to hover between 1 and 1.5 percent. Today, it is up around 4.5 percent.
#37 According to the Mortgage Bankers Association, at least 8 million Americans are currently at least one month behind on their mortgage payments.
#36 According to a Harris Interactive survey taken near the end of last year, 77 percent of all Americans are now living paycheck to paycheck. In 2007, the same survey found that only 43 percent of Americans were living paycheck to paycheck.
#35 Starting on January 1st, 2011 the Baby Boomers began to hit retirement age. From now on, every single day more than 10,000 Baby Boomers will reach the age of 65. That is going to keep happening every single day for the next 19 years.
#34 According to a new poll by Americans for Secure Retirement, 88 percent of all Americans are worried about “maintaining a comfortable standard of living in retirement”. Last year, that figure was at 73 percent.
#33 One out of every six elderly Americans now lives below the federal poverty line.
#32 In 1950, each retiree’s Social Security benefit was paid for by 16 U.S. workers. According to new data from the U.S. Bureau of Labor Statistics, there are now only 1.75 full-time private sector workers for each person that is receiving Social Security benefits in the United States.
#31 According to the Congressional Budget Office, the Social Security system paid out more in benefits than it received in payroll taxes in 2010. That was not supposed to happen until at least 2016.
#30 The U.S. government now says that the Medicare trust fund will run out five years faster than they were projecting just last year.
#29 According to one study, the 50 U.S. state governments are collectively 3.2 trillion dollars short of what they need to meet their pension obligations.
#28 A different study has shown that individual Americans are $6.6 trillion short of what they need to retire comfortably.
#27 Between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.
#26 According to a shocking AARP survey of Baby Boomers that are still in the workforce, 40 percent of them plan to work “until they drop”.
#25 Last year, 2.6 million more Americans dropped into poverty. That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.
#24 Back in the year 2000, 11.3% of all Americans were living in poverty. Today, 15.1% of all Americans are living in poverty.
#23 More than 50 million Americans are now on Medicaid. Back in 1965, only one out of every 50 Americans was on Medicaid. Today, approximately one out of every 6 Americans is on Medicaid.
#22 More than 45 million Americans are now on food stamps.
#21 The number of Americans on food stamps has increased 74% since 2007.
#20 Approximately one-third of the entire population of the state of Alabama is now on food stamps.
#19 Right now, one out of every four American children is on food stamps.
#18 It is being projected that approximately 50 percent of all U.S. children will be on food stamps at some point in their lives before they reach the age of 18.
#17 The poverty rate for children living in the United States increased to 22% in 2010.
#16 There are 314 counties in the United States where at least 30% of the children are facing food insecurity.
#15 In Washington D.C., the “child food insecurity rate” is 32.3%.
#14 More than 20 million U.S. children rely on school meal programs to keep from going hungry.
#13 It is estimated that up to half a million children may currently be homeless in the United States.
#12 The number of Americans that are going to food pantries and soup kitchens has increased by 46% since 2006.
#11 According to a recent report from the AFL-CIO, the average CEO made 343 times more money than the average American did last year.
#10 The wealthiest 1% of all Americans now own more than a third of all the wealth in the United States.
#9 The poorest 50% of all Americans collectively own just 2.5% of all the wealth in the United States.
#8 The percentage of millionaires in Congress is more than 50 times higher than the percentage of millionaires in the general population.
#7 According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006. Today, that number has shrunk to 14.5 million.
#6 According to one recent poll, 90 percent of the American people believe that economic conditions in the United States are “poor”. To put this in perspective, only 11 percent of Americans rated economic conditions in the U.S. as “poor” back in January of 1999.
#5 According to another recent poll, 80 percent of the American people believe that we are actually in a recession right now.
#4 Our dollar is being systematically destroyed by the Federal Reserve. An item that cost $20.00 in 1970 will cost you $116.78 today. An item that cost $20.00 in 1913 will cost you $457.67 today.
#3 The Federal Reserve made $16.1 trillion in secret loans to their friends during the last financial crisis.
#2 The Federal Reserve is a perpetual debt machine. Today, the U.S. national debt is more than 4700 times larger than it was when the Federal Reserve was created back in 1913.
#1 According to a new CNN/ORC International Poll, 27 percent of all Americans have never even heard of Federal Reserve Chairman Ben Bernanke.
We need to educate America.
Please share this with as many people as you can. Time is running out for America, and 2012 is going to be an absolutely pivotal year in the history of this nation.
We are in the midst of a long-term economic decline that is rapidly accelerating. If dramatic changes are not made very quickly, we will soon witness a full-blown collapse of the economy.
George Washington, our nation’s first president and leader of the American Revolution…
Abe Lincoln, who led the North through the Civil War…
Alexander Hamilton, founding father, first Secretary of the Treasury and leader of the constitutional convention…
Andrew Jackson – “Old Hickory” – fought the British in New Orleans…
When the newly-formed United States of America first minted early coinage, it was Miss Liberty (sometimes referred to as a goddess of liberty in early numismatic writings) whose portrait appeared on coins. The American Eagle usually appeared on the reverse. It wasn’t until 1909, the 100th anniversary of Abraham Lincoln’s birth, that a (dead) president was first featured on U.S. coinage. Intended to be a special commemorative, the Lincoln Cent proved so popular that it endures to this day! Other dead presidents soon followed, and we are all familiar with the Jefferson Nickel, Roosevelt Dime, Washington Quarter, etc.
It is federal law that no living man or woman can appear on U.S. coinage. Presidents must be dead for at least two years before they are eligible for inclusion in the Presidential Dollar series.
Ulysses Grant, Union North army general in the Civil War…
Ben Franklin, genius inventor, political theorist and leading author of the Constitution…
Finally, we have someone to put on the food stamp…
Will Washington Foment War Between China and India?
War is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives. A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small ‘inside’ group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.
Smedley Butler, two Congressional Medals of Honor, for capture of Vera Cruz, Mexico, 1914, and for capture of Ft. Riviere, Haiti, 1917, Distinguished Service Medal, 1919. Republican primary candidate for Senate, 1932. – I spent 33 years and four months in active military service as a member of this country’s most agile military force, the Marine Corps. I served in all commissioned ranks from Second Lieutenant to Major General. And during that period, I spent most of my time being a high class muscle-man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism. I could have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents. … I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. in ‘Common Sense’, Nov., 1935.
Paul Craig Roberts
June 18, 2011
What is Washington’s solution for the rising power of China?
The answer might be to involve China in a nuclear war with India.
The staging of the fake death of bin Laden in a commando raid that violated Pakistan’s sovereignty was sold to President Obama by the military/security complex as a way to boost Obama’s standing in the polls.
The raid succeeded in raising Obama’s approval ratings. But its real purpose was to target Pakistan and to show Pakistan that the US was contemplating invading Pakistan in order to make Pakistan pay for allegedly hiding bin Laden next door to Pakistan’s military academy. The neocon, and increasingly the US military position, is that the Taliban can’t be conquered unless NATO widens the war theater to Pakistan, where the Taliban allegedly has sanctuaries protected by the Pakistan government, which takes American money but doesn’t do Washington’s bidding.
Pakistan got the threat message and ran to China. On May 17 Pakistan’s prime minister, Yousaf Raza Gilani, as he departed for China declared China to be Pakistan’s “best and most trusted friend.” China has built a port for Pakistan at Gwadar, which is close to the entrance of the Strait of Hormuz. The port might become a Chinese naval base on the Arabian Sea.
Raza Rumi reported in the Pakistan Tribune (June 4) that at a recent lecture at Pakistan’s National Defense University, Husain Haqqani, Pakistan’s ambassador to the US, asked the military officers whether the biggest threat to Pakistan came from within, from India, or from the US. A majority of the officers said that the US was the biggest threat to Pakistan.
China, concerned with India, the other Asian giant that is rising, is willing to ally with Pakistan. Moreover, China doesn’t want Americans on its border, which is where they would be should Pakistan become another American battleground.
Therefore, China showed its displeasure with the US threat to Pakistan, and advised Washington to respect Pakistan’s sovereignty, adding that any attack on Pakistan would be considered an attack on China
I do not think China’s ultimatum was reported in the US press, but it was widely reported in India’s press. India is concerned that China has stepped up to Pakistan’s defense.
The Chinese ultimatum is important, because it is a WWI or WWII level of ultimatum. With this level of commitment of China to Pakistan, Washington will now seek a way to maneuver itself out of the confrontation and to substitute India.
The US has been fawning all over India, cultivating India in the most shameful ways, including the sacrifice of Americans’ jobs. Recently, there have been massive US weapons sales to India, US-India military cooperation agreements, and joint military exercises.
Washington figures that the Indians, who were gullible for centuries about the British, will be gullible about the “shining city on the hill” that is “bringing freedom and democracy to the world” by smashing, killing, and destroying. Like the British and France’s Sarkozy, Indian political leaders will find themselves doing Washington’s will. By the time India and China realize that they have been maneuvered into mutual destruction by the Americans, it will be too late for either to back down.
With China and India eliminated, that only leaves Russia, which is already ringed by US missile bases and isolated from Europe by NATO, which now includes former constituent parts of the Soviet Empire. A large percentage of gullible Russian youth admires the US for its “freedom” (little do they know) and hates the “authoritarian” Russian state, which they regard as a continuation of the old Soviet state. These “internationalized Russians” will side with Washington, more of less forcing Moscow into surrender.
As the rest of the world, with the exception of parts of South America, is already part of the American Empire, Russia’s surrender will let the US focus its military might on South America. Chavez will be overthrown, and if others do not fall into line, more examples will be made.
The only way the American Empire can be stopped is for China and Russia to realize their danger and to form an unbreakable alliance that reassures India, breaks off Germany from NATO and defends Iran.
Otherwise, the American Empire will prevail over the entire world. The US dollar will become the only currency, and therefore be spared exchange rate depreciation from debt monetization.
Gold and silver will become forbidden possessions, as will guns and a number of books, including the US Constitution.
A Dollar Collapse? No Way – The U.S. Dollar Rocks! (Propaganda)
Are we on the verge of a dollar collapse? Don’t believe the skeptics. The truth is that there is no currency in the world that is stronger than the old greenback. The U.S. dollar is the reserve currency of the world. Virtually all of the nations on the face of the earth use it for trading and they always will. Why? Because the U.S. dollar is awesome. No currency on earth can compete with our awesomeness. So what that the dollar hit a new all-time record low against the Swiss franc today? Do you really want to move over with the Swissies and eat chocolate and make watches? No, you want to live in the land of American Idol, the NFL and apple pie – the good old USA. Who cares if it takes about a dollar and a half to buy a single euro now? Do you really want to go live with the Frenchies and eat a bunch of French bread while you wear a beret every day? Of course not. There isn’t going to be a dollar collapse. As long as the USA is still number one the rest of the world is still going to need U.S. dollars. So quit your worrying.
The other day all of the “doom and gloomers” were crying that the sky was falling because the U.S. dollar had fallen for 8 trading days in a row. They were proclaiming that the “end of the dollar” was near because the dollar index was approaching a new record low.
The following is how an article from yesterday in the Washington Post described the recent slide of the dollar….
The dollar has fallen against a basket of six major currencies — the euro, Japanese yen, British pound, Canadian dollar, Swiss franc and Swedish krona — for the past eight trading days. That measure struck its lowest point since July 2008 on Monday, at 72.72. It hit bottom in April 2008 at 71.33. Its highest point since the euro’s creation was 120.92 in July 2001.
Well guess what?
The dollar index moved back up today.
That is what happens – currencies go up and currencies go down.
There is no need to get your pants in a twist over it.
When the U.S. dollar goes down, it makes our products more affordable overseas. When other nations buy more of our stuff that helps our businesses.
So when the dollar declines a little bit that is nothing to be alarmed about.
So far in 2011, the U.S. dollar has only lost about 6.5 percent of its value.
Should we be freaking out about a measly 6.5 percent?
I don’t think so.
Do you want an even “scarier” number?
The dollar has fallen by 17 percent compared to other major national currencies since 2009.
Oooooooooohhhhhhhhhhhh – are you frightened out of your mind yet?
You better run outside Chicken Little – the sky might be falling.
The problem is that there are so many tinfoil hat wearing conspiracy theorists running around declaring that the U.S. dollar is dying that some people are actually starting to believe it.
Do you want proof that the U.S. dollar is going to be just fine?
Here you go….
Just check out what U.S. Treasury Secretary Timothy Geithner recently told the Council on Foreign Relations….
“Our policy has been and will always be, as long as I will be in office, that a strong dollar is in the interest of the country.”
You have the very words of the U.S. Treasury Secretary right there.
He has promised the we “will always” have a strong dollar policy.
Geithner has said it and that settles it.
Who are you going to believe? Are you going to believe the U.S. Treasury Secretary or are you going to believe a bunch of crazy Internet bloggers with blogs with titles such as “Economic Disaster” and “The American Dream Has Been Flushed Down The Toilet”?
Let’s get real.
The U.S. dollar is just fine and there is not going to be some mythical “dollar collapse”.
But isn’t the price of gasoline going up?
Sure it is.
But that isn’t the fault of the Federal Reserve. They don’t set prices for gasoline.
The reality is that prices for different things go up and down. That is what a free market economy looks like.
Right now the price of gasoline is actually lower than it was back in 2008….
So shouldn’t we actually be talking about falling gasoline prices?
I don’t know about you, but I sure am glad to be paying less for gasoline than I was back in mid-2008.
But the tinfoil hat crowd will “cherry pick” statistics to make it seem like things are worse than they really are. They will break out scary sounding statistics such as the fact that over the past 12 months the average price of gasoline in the United States has gone up by about 30%.
LOL – cry me a river. Life is tough. People will cry over just about anything these days.
Who really cares that the average American driver will spend somewhere around $750 more for gasoline in 2011?
That is just a sign that the economic recovery is in full swing.
Do you know how much all of that money is going to help our oil companies?
They are going to be swimming in cash, and all of that wealth will “trickle down” and help out the folks on main street.
You would think that the half-crazed economic bloggers out there would be thrilled by all of this, but no – they just keep trotting out the “inflation boogeyman” over and over and over.
Well, you know what?
According to no less of an authority than Federal Reserve Chairman Ben Bernanke, we basically have close to zero inflation in the United State right now.
You believe the Federal Reserve, don’t you?
If not, there is probably something wrong with you.
Unfortunately, we have got a whole bunch of these self-proclaimed “experts” (who are really just legends in their own minds) running around proclaiming that inflation is not calculated the same way that it used to be.
Well, you know what? They are right. But it isn’t some great conspiracy. The truth is that we have “improved” the way that inflation is calculated 24 times since 1978.
The government is always trying to become more accurate.
What is wrong with that?
But today we have a bunch of amateurs running around trying to tell us what the “real” rate of inflation actually is.
For example, a New York post analysis claims that the rate of inflation in New York City has been about 14 percent over the past year.
So how many prices did they measure?
Who are you going to trust more – the Federal Reserve or the New York Post?
Perhaps the New York Post should just stick to reporting on the latest Elvis sighting and leave economics to the big boys.
If hack reporting by publications like the New York Post wasn’t bad enough, we’ve also got numbskulls like John Williams from a website called “Shadow Government Statistics” running around proclaiming that the sky is going to fall because of U.S. government debt.
The following is a sampling of the smelly stuff that Williams is spreading around….
S&P is noting the U.S. government’s long-range fiscal problems. Generally, you’ll find that the accounting for unfunded liabilities for Social Security, Medicare and other programs on a net-present-value (NPV) basis indicates total federal debt and obligations of about $75 trillion. That’s 15 times the gross domestic product (GDP). The debt and obligations are increasing at a pace of about $5 trillion a year, which is neither sustainable nor containable. If the U.S. was a corporation on a parallel basis, it would be headed into bankruptcy rather quickly.
Does anyone actually believe any of that nonsense?
How long has Williams been predicting that U.S. government finances are going to collapse?
Yes, he has been doing it for a very, very long time.
Has the sky fallen yet?
Are we living in an economic wasteland?
Has there been a U.S. dollar collapse?
Look around you – everything is just fine.
Every time the U.S. economy has had a recession in the past, what has happened?
The economy has recovered and has gotten larger than ever.
And that is exactly what is happening again.
But sadly, there are more Americans than ever that actually believe that we are headed for economic disaster. In fact, there are some websites where they actually debate what the best place to live in the United States will be when the “economic collapse” happens.
Can you believe that?
People need to grow up.
Yes, the U.S. government is in debt. That should be no surprise. U.S. government debt is normal. The truth is that our financial system is designed to have U.S. government debt constantly expand and for there to always be a little bit of inflation in the system.
When the U.S. government goes into more debt, more money is created. If there was no debt in our society there would be no money.
So all of these bozos that claim that they want to get rid of all government debt don’t know what they are talking about.
We need to trust that the experts over at the Federal Reserve know what they are doing. The prudent moves by Ben Bernanke have helped the economy to recover after the horrible financial crisis of 2008. Instead of being criticized, he should be commended. There is a reason why he was named “Person of the Year” by Time Magazine in 2009.
The Federal Reserve is watching inflation. If it starts spiking up a little bit they will stomp it out. They know what they are doing.
This is 2011 – the people running things were produced by some of the greatest academic institutions on the planet. Nothing is going to catch them by surprise. They know exactly what our problems are and how to solve them.
So quit listening to the tinfoil hat crowd. Yes, the U.S. dollar will fluctuate a little bit relative to other major currencies. That is nothing to be alarmed about.
There is not going to be a dollar collapse so stop waiting for one. The U.S. dollar is always going to be the greatest currency on earth. Why? Because the United States is the greatest nation on earth.
After all, what other nation on earth could produce Justin Bieber, Jim Carrey, Simon Cowell, Pamela Anderson, Catherine Middleton, Michael J. Fox, Seth Rogen, Brendan Fraser, Jason Priestly, Tom Green, Ryan Reynolds, Mike Myers, Kiefer Sutherland, Howie Mandel, Keanu Reeves and William Shatner?
Hopefully by now you have figured out that this is a satirical piece demonstrating how ridiculous much of the propaganda in the mainstream media really is. Thank you for taking the time to read my twisted attempt at humor.
Why Investors Are Buying Silver As If There Is No Tomorrow
The American Dream
April 23, 2011
The price of silver has been absolutely exploding lately. It has reached heights not seen since the Hunt Brothers attempted to corner the silver market over three decades ago. But this time there are no Hunt Brothers to blame for the stunning rise in the price of silver. So exactly why are investors buying silver as if there is no tomorrow right now? Well, the truth is that there are a lot of reasons. Investors have been flocking to precious metals such as gold and silver as the value of paper currencies has declined. The euro is incredibly weak right now and the U.S. dollar appears to be on the verge of a major collapse. In fact, the entire financial system is highly unstable right now. In such an environment, investors seek some place safe to park their money, and right now gold and silver are seen as safe harbors. But gold and silver have not been going up in price at the same pace. So why is silver outperforming gold so significantly?
The price of silver has increased by more than 150% over the past 12 months. But the price of gold has only gone up about 30%.
If you invested $100 in the S&P 500 ten years ago it would be worth about $107.48 today.
If you invested $100 in gold ten years ago it would be worth about $569 today.
If you invested $100 in silver ten years ago it would be worth about $1037 today.
Clearly something is going on with silver.
Many people are convinced that this is part of a correction that is long overdue. Geologists tell us that there is approximately 17.5 times as much silver in the crust of the earth as there is gold. But today the price of an ounce of gold is about 30 times higher than the price of an ounce of silver.
That would seem to indicate that the price of silver still has a lot of room to grow relative to the price of gold.
In addition, silver is a key industrial commodity and it is constantly being used up. Today, silver is used in a vast array of products and medicines. The following is an excerpt from an official U.S. government report that describes just some of the ways silver is used in society today….
Silver’s traditional use categories include coins and medals, industrial applications, jewelry and silverware, and photography. The physical properties of silver include ductility, electrical conductivity, malleability, and reflectivity. The demand for silver in industrial applications continues to increase and includes use of silver in bandages for wound care, batteries, brazing and soldering, in catalytic converters in automobiles, in cell phone covers to reduce the spread of bacteria, in clothing to minimize odor, electronics and circuit boards, electroplating, hardening bearings, inks, mirrors, solar cells, water purification, and wood treatment to resist mold. Silver was used for miniature antennas in Radio Frequency Identification Devices (RFIDs) that were used in casino chips, freeway toll transponders, gasoline speed purchase devices, passports, and on packages to keep track of inventory shipments. Mercury and silver, the main components of dental amalgam, are biocides and their use in amalgam inhibits recurrent decay.
Estimates vary, but many experts are now projecting that at current consumption rates we will run out of silver at some point during this century.
A d v e r t i s e m e n t
On the other hand, we are not facing a similar problem with gold. Gold, because it has traditionally been so expensive, is not used in many products at all. The total amount of gold on earth just continues to increase each year.
Silver is also considered to be a lot more accessible for smaller investors. Not many average Americans can afford to do much investing in gold because it is so expensive. But just about anyone can afford a few ounces of silver.
As investors around the globe have watched the Federal Reserve create endless amounts of money and as they have watched the U.S. government borrow endless amounts of money the hunger for precious metals has grown.
The following is what John Browne had to say about the current situation in a recent commentary….
Today, with the Federal Reserve treating the greenback as a never ending lottery ticket for deficit spending politicians, many investors feel the U.S. dollar is good for nothing. As a result there is an increasing international pressure to remove the U.S. dollar’s reserve status. Given that there is no widely accepted alternative to the dollar (the euro has many problems of its own), this is creating fears of an international currency crisis, which has fueled interest in precious metals.
As the U.S. dollar and other paper currencies continue to decline, the demand for precious metals such as gold and silver is only going to increase.
Most investors are not stupid. They know that the European debt crisis is approaching a meltdown. They know that U.S. government debt is not sustainable. They know that all of the paper currencies around the world that are backed by nothing will continue to decline in value just like they always have. All of the major central banks have been recklessly printing money. In such an environment it only makes sense to put your wealth into hard assets.
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But there is another layer to all of this. Many now view investing in precious metals as a way to rebel against the Federal Reserve and other central banks. All over the globe people are waking up to how unjust the banking system is. Since central banks such as the Federal Reserve are almost completely unaccountable politically, many individuals have sought other ways to protest the system. Getting out of “Federal Reserve Notes” and into precious metals is one small way to do that.
In any event, what is clear is that the price of silver is likely to continue to go up over the long-term. Silver is used in thousands of products and we are slowly running out of it. Meanwhile, the central banks of the world are absolutely flooding the globe with paper currency. What all of that adds up to is a much higher price for silver.
Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., eliminated government-related debt from his flagship fund last month as the U.S. projected record budget deficits.
Pimco’s $237 billion Total Return Fund last held zero government-related debt in January 2009. Gross had cut the holdings to 12 percent of assets in January, according to the Newport Beach, California-based company’s website. The fund’s net cash-and-equivalent position surged from 5 percent to 23 percent in February, the highest since May 2008.
Yields on Treasuries may be too low to sustain demand for U.S. government debt as the Federal Reserve approaches the end of its second round of quantitative easing, Gross wrote in a monthly investment outlook posted on Pimco’s website on March 2. Gross mentioned that Pimco may be a buyer of Treasuries if yields rise to attractive levels.
Treasury yields are about 150 basis points too low when viewed on a historical context and when compared with expected nominal gross domestic product growth of 5 percent, he wrote in the commentary. The Fed is scheduled to complete purchases of $600 billion of Treasuries in June.
Gross in his February commentary urged investors to reduce holdings of Treasuries and U.K. gilts and buy higher-returning securities such as debt from emerging-market nations. “Old- fashioned gilts and Treasury bonds may need to be ‘exorcised’ from model portfolios and replaced with more attractive alternatives both from a risk and a reward standpoint,” Gross wrote.
Gross last month increased holdings of emerging-market debt to 10 percent, the highest since October, from 9 percent in January. He cut holdings of mortgage securities to 34 percent from 42 percent in January.
The Zero Hedge website first reported the change in assets today. Pimco doesn’t comment on changes in holdings.
Treasuries returned 5.9 percent in 2010, according to Bank of America Merrill Lynch Indexes. The securities lost 0.6 percent so far this year.
Ten-year Treasury yields have risen for each of the past six months, according to data compiled by Bloomberg, the longest run since June 2006, as the economy showed signs of improvement and prices of commodities climbed. The 10-year yield fell six basis points to 3.48 percent today.
Gross kept the holdings of non-U.S. developed debt at 5 percent in February.
Gross’ fund has returned 7.23 percent in the past year, beating 85 percent of its peers, according to data compiled by Bloomberg. It gained 1.39 percent over the past month.
As the Fed maintains its target rate at a record low range of zero to 0.25 percent and has made an increase in inflation a cornerstone of its monetary policy, Gross noted that inflation may be a bigger factor than many suggest.
Gains in so-called headline inflation matter more for the U.S. economy than Fed Chairman Ben S. Bernanke suggests and rising oil prices may cut U.S. gross domestic product by a quarter to half a percentage point, Gross said March 4 in a radio interview on “Bloomberg Surveillance” with Tom Keene.
“Bernanke tends to think this doesn’t matter — at least in terms of headline versus the core — we do,” Gross said.
Pimco’s U.S. government-related debt category can include conventional and inflation-linked Treasuries, agency debt, interest-rate derivatives, Treasury futures and options and bank debt backed by the Federal Deposit Insurance Corp., according to the company’s website. The fund can have a so-called negative position by using derivatives, futures or by shorting.
Derivatives are financial obligations whose value is derived from an underlying asset. Futures are agreements to buy or sell assets at a later specific price and date. Shorting is borrowing and selling an asset in anticipation of making a profit by buying it back after its price has fallen.
Pimco, a unit of the Munich-based insurer Allianz SE, managed $1.24 trillion of assets as of December.
To contact the reporter on this story: Susanne Walker in New York at [email protected]