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Monday, 08 August 2011
Acting as a "central economic planner," the Federal Reserve is moving the U.S. economy from one market bubble to another, and the next one will be a disaster, Rep. Ron Paul, R-Texas - (Read Full Story)
After the collapse of the tech, housing and financial bubbles, Paul said, the "dollar bubble" will be next.
"That's going to be the big one," the Texas congressman said on the heels of yesterday's worldwide market plummet, which saw the Dow lose more than 500 points.
In response to the market bloodbath, Paul noted, investors are pouring money into treasury bills and dollars, "but that is a bubble, too."
"When the panic comes, and they leave the dollar and go into real assets, that's when the whole world knows that a new monetary system is on the horizon, because this one will not last," Paul warned.
Days like yesterday, he said, "are warning signs that that big crash is coming for the dollar."
Paul emphasized that along with Congress balancing the budget and stopping spending, the U.S. needs a new monetary system.
"The system is built on a monetary system where the Fed creates money out of thin air," he said. "You have to stop doing that, because that is what caused the deficits to pile on and the financial bubble."
Monday, 08 August 2011
Economy Debased by Lies, Fraud, and Bogus Statistics - (Read Full Story)
The entire concept of keeping the economy functioning is based upon US dollar debasement via the creation of excess money and credit, which is accompanied by departments of government and Wall Street. Once in the past 11 years in particular we have seen lies, fraud, bogus statistics and Mickey Mouse bookkeeping. For good measure the powers behind government have thrown in the gutting of America’s industrial base by outsourcing and offshoring. As an extra temporary measure the Fed has bailed out the financial sectors in the US and Europe and continues to bail out the US Treasury. Who cares about currency debasement because it’s a cost of doing business.
We just witnessed another piece of legislation to destroy Social Security, Medicare and to usurp the US Constitution’s power to govern America via a “star chamber” group of 12 bought and paid for political operatives. Their style of government is very reminiscent of Soviet Russia and Nazi Germany.
Currency debasement goes on relentlessly worldwide and now the Fed is hinting that a QE 3 may be needed. We expected those trial balloons to appear on or about August 15th to be followed during the first two weeks of September of an announcement and beginning of QE 3. We felt the $300 billion they could roll over from existing Treasuries would be exhausted around September 1st. We expect during August the Fed will make a major effort to sell CDOs and MBSs, better known as toxic waste to raise more capital. The question is how much will be lost in these latter transactions, that the American people will be responsible for? Again taxpayers pay for bank losses being laundered by the Fed, which a number of the banks involved own. These actions further demean the value of the dollar, cause worse inflation and force gold and silver related assets higher.
Monday, 08 August 2011
Gold surges above $1,700 on US downgrade woes - (Read Full Story)
Gold has hit all-time highs of $1,709 following a week in which Standard & Poors’ downgraded the US credit rating and equity markets plummeted on the Eurozone’s ongoing debt crisis.
The precious metal is up over 3% today and represents one of the only asset classes not to be sold off, with the FTSE 100 index opening trading this morning down 1%, while Asian markets shed 2.4%.
The sell-off follows the move by S&P on Saturday to cut the US credit rating from AAA for the first time in history, down to AA+, not long after the country’s political deadlock over raising its debt ceiling and making a deficit reduction
Wednesday, 01 June 2011
Rep. Paul to Fed: Tell Us Everything, or Else - (Read Full Story)
The chairman of the House subcommittee that oversees the Federal Reserve demanded Tuesday that the Fed fully disclose details of billions -- perhaps trillions -- in secret emergency loans it made to almost every major bank in the U.S. and overseas during the financial crisis or face a congressional subpoena for the information.
In an interview with Fox Business, Rep. Ron Paul (R-Texas), chairman of the House Financial Services subcommittee on domestic monetary policy, said he wants to know “how much, when, where and why” from Fed officials when they testify about the loans at a subcommittee hearing Wednesday.
“We’re going to get to the bottom of what the Fed did during the big bailout a couple of years ago,” Paul said. “We have some precise questions. I imagine we won’t get all of them answered tomorrow because they’ll do a little bit of stonewalling, I’m sure.”
“If they don’t answer, they’ll hear from us,” he said. “We can use the subpoena power and say, ‘Look, you have to bring us the records.’"
Thursday, 02 December 2010
It's The Bankers Or Us
Problem, Reaction, Solution: Derivatives, Crash, Too Big To Fail, Bailout, Nationalization, Budget Crisis, Privatization, Debt Slavery, Austerity, Evaporating Pensions, Central Banks, Big Government, World Government. It's been quite a saga, but this economic crisis has been planned sabotage by design. The age of the Offshore Global Cartel is the age of economic warfare with the wealthy Western world. The 3rd World has largely already been brought to its knees. The remaining vestiges of national sovereignty must be eliminated and the middle class consumer society must be swept back to the feudal age by way of a tidal wave looting of living standards, cut wages & pensions, and the bread and circuses of cheap plastic goods and entertainment. The upper middle classes, the array of independent businesses, remaining lone giants and other true competition to the New World Order mafia economy system must be consolidated or dominated.
Alex Jones explains why it is the bankers or us will be free at the end of this crisis. The total cost of the derivatives is over $1.5 Quadrillion, a sum that will completely consume the world in perpetual debt, a sum that can never be repaid. It is an economic shearing, a shearing of the sheep. The economic crisis has always really been a complete transfer of power to the banking class.
Thursday, 02 December 2010
Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms
The financial crisis stretched even farther across the economy than many had realized, as new disclosures show the Federal Reserve rushed trillions of dollars in emergency aid not just to Wall Street but also to motorcycle makers, telecom firms and foreign-owned banks in 2008 and 2009.
The Fed's efforts to prop up the financial sector reached across a broad spectrum of the economy, benefiting stalwarts of American industry including General Electric and Caterpillar and household-name companies such as Verizon, Harley-Davidson and Toyota. The central bank's aid programs also supported U.S. subsidiaries of banks based in East Asia, Europe and Canada while rescuing money-market mutual funds held by millions of Americans.
Tuesday, 09 November 2010
GLOBAL ECONOMY-Obama returns fire after China slams Fed's move
U.S. President Barack Obama defended the Federal Reserve's policy of printing dollars on Monday after China and Russia stepped up criticism ahead of this week's Group of 20 meeting.
The G20 summit has been pitched as a chance for leaders of the countries that account for 85 percent of world output to prevent a currency row escalating into a rush to protectionism that could imperil the global recovery.
Wednesday, 03 November 2010
Fed Easing May Mean 20% Dollar Drop
The dollar is in danger of losing 20 percent of its value over the next few years if the Federal Reserve continues unconventional monetary easing, Bill Gross, the manager of the world's largest mutual fund, said on Monday.
I think a 20 percent decline in the dollar is possible," Gross said, adding the pace of the currency's decline was also an important consideration for investors.
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Monday, 02 August 2010
Obamacare Supporter Stark: Feds Can Do Anything
Pro-Obamacare Congressman Pete Stark outraged attendees at a town hall meeting in Hayward California recently when he responded to criticism surrounding the constitutional basis of government run health care by claiming that the federal government had the power to do anything.
An attendee asked Stark to explain his claim that health care was now a right rather than a privilege in light of the fact that government imposed Obamacare "infringes the inalienable rights of other people" under the Constitution. The attendee pointed out that to mandate others to provide a service was a form of slavery and therefore violated the 13th amendment to the Constitution.
Thursday, 17 June 2010
House Democrats Drop Ron Paul’s Audit of Federal Reserve
Yes, you read that right. Ron Paul’s push to audit the Federal Reserve Bank and see who received how much money in the last few years has been drastically reduced. Amidst the many costly bailouts, recipients have included banks, large companies, and even foreign countries. And now it appears that much of what has happened will remain behind closed doors.
So much for transparency. So much for accountability. Remember those bright promises made a couple years ago, opening up a new era of hope and change? In fact, you can still read those promises made by our President on the official government web site. I’ll quote some of it:
My Administration is committed to creating an unprecedented level of openness in Government. We will work together to ensure the public trust and establish a system of transparency, public participation, and collaboration. Openness will strengthen our democracy and promote efficiency and effectiveness in Government.
Government should be transparent. Transparency promotes accountability and provides information for citizens about what their Government is doing. Information maintained by the Federal Government is a national asset. My Administration will take appropriate action, consistent with law and policy, to disclose information rapidly in forms that the public can readily find and use. Executive departments and agencies should harness new technologies to put information about their operations and decisions online and readily available to the public. Executive departments and agencies should also solicit public feedback to identify information of greatest use to the public.
Done laughing? (Or crying?)...
Thursday, 11 March 2010
Stop the Federal Reserve From Shredding Its Records
Should the policymaking committee of the most powerful peacetime entity in the United States government be allowed to destroy their source records? The Federal Open Market Committee of the nation's central bank, an intricate part of the United States government may be continuing to destroy its source records, a policy it began in 1995 with an unrecorded vote -no fingerprints - conducted by then Chairman Alan Greenspan...