“…The last time a nation did what we are doing was Germany 1919-1923. They were printing money out of thin air. When that bubble broke it cost 87 trillion marks to buy one ounce of gold. By the way, the US has a balance sheet called the off line budget. This budget contains Medicare, social security, the post office and debts for the Iraq war and all of the previous wars not yet paid for. That budget deficit is over $70 TRILLION – is it any wonder why the government doesn’t make mention of this balance sheet?…”
The Dow’s Phony New High
By: Devvy Kidd
October 6, 2006
© 2006 – NewsWithViews.com
“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.” –Thomas Jefferson to A. L. C. Destutt de Tracy, 1820. FE 10:175
The Dow’s Phony New High is the caption of a very important column which appeared a few days ago. I consider this column by Michael Nystrom to be a must read because he does an excellent job in bringing this sometimes complicated issue to a level that even people like me can understand the deceit. I hope you can take the time to read this important information about how the American people are being manipulated into buying this grand “new high” on Wall Street, believing it to be an indicator of how good the economy is doing, when in fact, this economy is heading for a hellish dive. One only need look at the dead housing market to feel the massive sucking sound just over the horizon.
Harvey Gordin, who owns El Dorado Gold, also sent me this link with the comment, “In my opinion, it is the single most important, story I have read this year. It explains the PPT, or Plunge Protection Team, and it’s direct effect on the price movement of the gold and silver markets. It explains why 60% of all trading on the NYSE is controlled, and why we have a controlled stock market. Our government tells us how important free markets are to the U.S., while they are trying to micro-manage all of our equity markets. The system is broken! When the bubble pops, which is inevitable, investors that think they are investing in a “free market economy,” will incur horrific stock market losses while the metals markets will rise in value to unthinkable heights.” You can read this important information here which show how this incestuous relationship between bankers and the federal government is putting everything you’ve ever worked for at risk.
So many Americans contact me asking for guidance on what do regarding their retirement nest eggs. Folks are very worried about what’s going on and with 77 million baby boomers getting ready to retire beginning in 2008, the financial picture has long passed gloom and doom. The numbers don’t lie and they get worse by the day with a Congress unconstitutionally stealing from we the people every day, kissed and blessed by Bush to fund nonsense, unconstitutional wars and unconstitutional nation “rebuilding.” No president of these united States of America has the authority to simply steal from the public treasury and yet every president for the past 60+ years has done just that with the approval of one rotten, corrupt Congress after another.
Here’s one for you: Today you will work to rebuild Lebanon. You remember Lebanon? It’s the bombed out city Israel destroyed a scant 2 1/2 months ago. As soon as Israel was finished with their murderous rampage, Bush proclaimed, as if he were a King and not subject to the law of the land:
“Today, I’m announcing that America will send more aid to support humanitarian and reconstruction work in Lebanon, for a total of more than $230 million. These funds will help the Lebanese people rebuild their homes and return to their towns and communities. … America is making a long-term commitment to help the people of Lebanon because we believe every person deserves to live in a free, open society that respects the rights of all.”
What hubris. There isn’t a scintilla of constitutional authority for Bush to simply rob the treasury and stealing your children’s future to rebuild any city or country. This is just another one of Bush’s grotesque violations of the supreme law of the land while Americans chew their nails about the new episode of crap like Survivor or fill their gut with beer at the local sporting event. Congress should have immediately stepped in and said, no, “Mr. President. Neither you nor this body has any authority to loot the people’s treasury for your political games.” Instead, both parties went on vacation and did nothing. The U.S. Treasury is over $8 TRILLION dollars in debt. There is no money in the treasury. That $230 million, which will eventually turn into ten times that amount, has to be borrowed from the thieves called the central bank (FED), further putting you, your children and grand children into financial slavery for all your natural lives. So, have a great time at work today knowing that the sweat off your back is being stolen to fund the “ordering of the new world.”
And don’t fall for the PR smoking mirrors released by the White House in mid-June: ‘Tax Revenue Reaches Highest One Day Total Ever’. This deceptive splash sucked up by cable and mainstream media without ever questioning the figures proclaimed the Treasury Department had collected $61 billion dollars in one day. Most Americans probably thought to themselves, “That’s great, now the government can fund more money for education!!!” Wrong. If you don’t know the money trail and how the deception works, please read this column I wrote. If you don’t have time to read it, you can order it (Vol I, Disk II) on my CDs and listen to it while driving or at home on your CD player; see here, scroll to the bottom.
I cannot give anyone financial advice on how to manage what they have left, but I can provide you with as much credible research as I can through my columns. One thing I will say: The legacy of the U.S. Congress for the past 60+ years is consigning you to poverty for your golden years. Between the massive rape to fund these unconstitutional wars to the illegals invading this country bleeding us dry, anyone who isn’t extremely concerned over all of this is in a state of denial. I asked Harvey to give me a short overview of the situation:
“The US account deficit is at $829 billion dollars for the past year and rising. This means that each month the US must borrow $2.27 billion dollars to pay its bills. In the past it has been foreign nations that wanted to invest their excess capital in the US. As of June 2005, these investments have come to a halt. Russia, China and Japan have stopped buying our debt. In fact they have been liquidating dollars. What is it that they know that we as US citizens don’t know? The answer is that the empire of the US is bankrupt and our dollar is doing to depreciate in epic proportions. So they are saying why invest in the US when they know they will lose money?
“Well, then, how do we then pay our monthly $2.27 billion debt? Since June of 2005, the consortium of Caribbean Banks stepped up to the plate and purchased our debt month by month. They pick up the slack and purchase our debt allowing us to continue our spending into further debt and entering into the biggest bankruptcy of the history of mankind. Just who are these benevolent Caribbean Banks? They’re the same folks who allow investors to shelter their money through trusts and other entities so as to lessen the taxes of the US citizens. These banks are the same people who bring us money laundering. So then how do they get their money? If the truth be known and it rarely is, our government with the assistance of the Federal Reserve, creates money out of nothing and gives that creation to the Caribbean Banks who in turn invest in US debt instruments thereby keeping us financially alive. That is called “monetizing the debt.” Why don’t you personally try to duplicate this concept? Answer? “I don’t want to go to jail.”
“The last time a nation did what we are doing was Germany 1919-1923. They were printing money out of thin air. When that bubble broke it cost 87 trillion marks to buy one ounce of gold. By the way, the US has a balance sheet called the off line budget. This budget contains Medicare, social security, the post office and debts for the Iraq war and all of the previous wars not yet paid for. That budget deficit is over $70 TRILLION – is it any wonder why the government doesn’t make mention of this balance sheet? Fellow Americans spend more money than they earn. Where do they get the money to pay their bills? They have been borrowing from what was their only increasing asset, their home. The price of your main asset is rapidly dropping in value. In fact, individuals who bought homes in the past two years on an interest only basis are now upside down and are finding it difficult to obtain conventional 30 year loans. This is 20% of the housing market. Another 20% of the market consists of homes paid for by ARMS. The end of this year and in 2007 their monthly payments will be adjusted upward dramatically. One big problem is that the majority of these home loans have a pre penalty payment of $10-$15 thousand dollars. That’s a big problem if you have little or zero equity.
“How will it end? We are witnessing the end of the middle class. The death of what makes our nation great. If you are reading this brief overview then you’re one step ahead of the average hard working American who doesn’t have a clue as what’s about to happen to his hard earned assets. Straight talk: all debts have one thing in common, they all eventually come due. It is impossible for us for us to ever, ever, ever repay our national debt. We are only being kept alive because the central bank owns the printing presses.
“One day soon one special event will occur. It may be an unexpected bankruptcy of a major corporation, i.e., Fannie Mae, a major bank or a highly leveraged hedge fund. It could also be a terrorist attack on a major US city. When that event occurs it will be too late to protect your assets. We will be in a liquidating crisis. That’s when you call your broker up to sell and his response is “To who”? Like the Boy Scott motto says, we must be prepared. The only things that will grow in value are hard assets. It took 27 years for the Dow Jones to reach its previous high reached in 1929. During that time the only investments that increased in value were gold and silver. That’s why I tell you to own physical gold. Gold has to move higher. It’s the only commodity that can bring sanity and stability to the fiat currencies of the world. That’s why the people that used to buy our US debt are buying and adding to their supply of gold and silver. It’s the only thing I know that can preserve your hard earned assets.”
It boggles the mind that the American people just don’t seem to care about the flushing of all they have worked for during their life time. How can you be “too busy” to safeguard that which you have toiled 30, 40 years to obtain? For those who do care, I respectfully recommend you do some homework and consider getting your hard earned assets out of the stock market (rigged to protect the money changers) and diversify some into gold at the very least. It’s no fun writing these columns, no one wants to be the bearer of bad news. One woman commented to me in Denver two weeks ago, “I don’t watch the news because I’m tired of bad news. I just want to hear good things happening.” Well, that’s ever so nice, but, ignoring a problem won’t make it go away and the best in the business are cringing as they watch Americans bury themselves in debt while trusting mother government to safeguard their retirement. Very foolish, indeed.
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