It’s Not a “Fiscal Cliff” … It’s the Descent Into Lawlessness

It’s Not a Tax or Spending Problem … It’s a Devolution Into Lawlessness

The “fiscal cliff” is a myth.

Instead, what we are facing is a descent into lawlessness.

Wikipedia notes:

In many situations, austerity programs are imposed on countries that were previously under dictatorial regimes, leading to criticism that populations are forced to repay the debts of their oppressors.

Indeed, the IMF has already performed a complete audit of the whole US financial system, something which they have only previously done to broke third world nations.

Economist Marc Faber calls the U.S. a “failed state“. Indeed, we no longer have a free market economy … we have fascism, communist style socialism, kleptocracy, oligarchy or banana republic style corruption.

Let’s look at some specific examples of our descent into lawlessness.

Lawless Looting and Redistribution of Wealth

The central banks’ central bank – the Bank for International Settlements- warned in 2008 that bailouts of the big banks would create sovereign debt crises … which could bankrupt nations.

That is exactly what has happened.

The big banks went bust, and so did the debtors. But the government chose to save the big banks instead of the little guy, thus allowing the banks to continue to try to wring every penny of debt out of debtors.

Treasury Secretary Paulson shoved bailouts down Congress’ throat by threatening martial law if the bailouts weren’t passed. And the bailouts are now perpetual.

Moreover:

The bailout money is just going to line the pockets of the wealthy, instead of helping to stabilize the economy or even the companies receiving the bailouts:

  • A lot of the bailout money is going to the failing companies’ shareholders
  • Indeed, a leading progressive economist says that the true purpose of the bank rescue plans is “a massive redistribution of wealth to the bank shareholders and their top executives”
  • The Treasury Department encouraged banks to use the bailout money to buy their competitors, and pushed through an amendment to the tax laws which rewards mergers in the banking industry (this has caused a lot of companies to bite off more than they can chew, destabilizing the acquiring companies)

And as the New York Times notes, “Tens of billions of [bailout] dollars have merely passed through A.I.G. to its derivatives trading partners”.

***

In other words, through a little game-playing by the Fed, taxpayer money is going straight into the pockets of investors in AIG’s credit default swaps and is not even really stabilizing AIG.

Moreover, a large percentage of the bailouts went to foreign banks (and see this). And so did a huge portion of the money from quantitative easing. Indeed, the Fed bailed out Gaddafi’s Bank of Libya, hedge fund billionaires, and big companies, but turned its back on the little guy.

A study of 124 banking crises by the International Monetary Fund found that propping up banks which are only pretending to be solvent often leads to austerity:

Existing empirical research has shown that providing assistance to banks and their borrowers can be counterproductive, resulting in increased losses to banks, which often abuse forbearance to take unproductive risks at government expense. The typical result of forbearance is a deeper hole in the net worth of banks, crippling tax burdens to finance bank bailouts, and even more severe credit supply contraction and economic decline than would have occurred in the absence of forbearance.

Cross-country analysis to date also shows that accommodative policy measures (such as substantial liquidity support, explicit government guarantee on financial institutions’ liabilities and forbearance from prudential regulations) tend to be fiscally costly and that these particular policies do not necessarily accelerate the speed of economic recovery.

***

All too often, central banks privilege stability over cost in the heat of the containment phase: if so, they may too liberally extend loans to an illiquid bank which is almost certain to prove insolvent anyway. Also, closure of a nonviable bank is often delayed for too long, even when there are clear signs of insolvency (Lindgren, 2003). Since bank closures face many obstacles, there is a tendency to rely instead on blanket government guarantees which, if the government’s fiscal and political position makes them credible, can work albeit at the cost of placing the burden on the budget, typically squeezing future provision of needed public services.

In other words, the “stimulus” to the banks blows up the budget, “squeezing” public services through austerity.

Numerous top economists say that the bank bailouts are the largest robbery and redistribution of wealth in history.

Why was this illegal? Well, the top white collar fraud expert in the country says that the Bush and Obama administrations broke the law by failing to break up insolvent banks … instead of propping them up by bailing them out.

And the Special Inspector General of the Tarp bailout program said that the Treasury Secretary lied to Congress regarding some fundamental aspects of Tarp – like pretending that the banks were healthy, when they were totally insolvent. The Secretary also falsely told Congress that the bailouts would be used to dispose of toxic assets … but then used the money for something else entirely. Making false statements to a federal official is illegal, pursuant to 18 United States Code Section 1001.

So breaking the rules to bail out the big, insolvent banks, is destroying our prosperity.

Lawless Justice System

A strong rule of law is essential for a prosperous and stable economy, yet the government made it official policy not to prosecute fraud, even though main business model adopted by the biggest financial crime in world history, the largest insider trading scandal of all time, illegal raiding of customer accounts and blatant financing of drug cartels and terrorists have all gotten away scot-free without any jail time.

There are two systems of justice in America … one for the big banks and other fatcats, and one for everyone else.

While Iceland prosecuted its top criminal bankers, and thus quickly got through its financial problems and now has a vibrant economy, the American government has done everything it can to cover up fraud, and has been actively encouraging criminal fraud and attacking those trying to blow the whistle.

The rule of law is now as weak in the U.S. and UK as many countries which we would consider “rogue nations”. See this, this, this, this, this, this, this, this, this, this and this.

This is a sudden change. As famed Peruvian economist Hernando de Soto notes:

In a few short decades the West undercut 150 years of legal reforms that made the global economy possible.

Moreover, U.S. government personnel are on the take. They have become so corrupt that regulators are literally sleeping with industry prostitutes … while they pimp out the American people.

The corruption of government officials is staggering, and the system of government-sponsored rating agencies had at its core a model of bribery.

We’ve gone from a nation of laws to a nation of powerful men making one-sided laws to protect their own interestsin secret. Government folks are using laws to crush dissent. It’s gotten so bad that even U.S. Supreme Court justices are saying that we are descending into tyranny.

It’s not a “fiscal cliff” … it’s an attempt to rape America … just like Greece and Ireland have been plundered.

Economics professor Randall Wray writes:

Thieves … took over the whole economy and the political system lock, stock, and barrel. They didn’t just blow up finance, they oversaw the swiftest transfer of wealth to the very top the world has ever seen. They screwed workers out of their jobs, they screwed homeowners out of their houses, they screwed retirees out of their pensions, and they screwed municipalities out of their revenues and assets.

Financiers are forcing schools, parks, pools, fire departments, senior citizen centers, and libraries to shut down. They are forcing national governments to auction off their cultural heritage to the highest bidder. Everything must go in firesales at prices rigged by twenty-something traders at the biggest and most corrupt institutions the world has ever known.

Economics professor Michael Hudson agrees … saying that the banks are trying to roll back all modern laws and make us all serfs.

Professor Hudson explained in 2008:

You have to realize that what they’re trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions. They’re not trying to make the economy more equal, and they’re not trying to share power. Their greed is (as Aristotle noted) infinite. So what you find to be a violation of traditional values is a re-assertion of pre-industrial, feudal values. The economy is being set back on the road to debt peonage. The Road to Serfdom is not government sponsorship of economic progress and rising living standards, it’s the dismantling of government, the dissolution of regulatory agencies, to create a new feudal-type elite.

Indeed:

Foreign Policy magazine ran an article entitled “The Next Big Thing: Neomedievalism“, arguing that the power of nations is declining, and being replaced by corporations, wealthy individuals, the sovereign wealth funds of monarchs, and city-regions.

Indeed, this isn’t the “Great Recession”, it’s the Great Bank Robbery. The big banks have pillaged and looted the rest of the world.

A lawless justice system is ruining the economy.

Lawless Central Bank

The non-partisan Government Accountability Office calls the Fed corrupt and riddled with conflicts of interest. Nobel the World Bank would view any country which had a banking structure like the Fed as being corrupt and untrustworthy. The former vice president at the Federal Reserve Bank of Dallas said said he worried that the failure of the government to provide more information about its rescue spending could signal corruption. “Nontransparency in government programs is always associated with corruption in other countries, so I don’t see why it wouldn’t be here,” he said.

Moreover, the Fed has broken the law by withholding information from Congress, letting unemployment rise in order to keep inflation low, and otherwise exceeding its authority under the Federal Reserve Act.

Our central bank’s lawless and unaccountable actions are hurting the economy.

Lawless Attack on Democracy

The ability of the people to participate in their government’s decision-making is vital for a nation’s prosperity. But we no longer have democracy or a republican form of government in America.

The big banks own Washington D.C. politicians, lock stock and barrel. See this, this, this and this. Two leading IMF officials, the former Vice President of the Dallas Federal Reserve, and the the head of the Federal Reserve Bank of Kansas City, Moody’s chief economist and many others have all said that the United States is controlled by an “oligarchy” or “oligopoly”, and the big banks and giant financial institutions are key players in that oligarchy.

Laws are being passed in secret, and not even Congress knows what’s going on.

In other words, not only the justice system, but the entire system of American representation has been corrupted, thus harming the economy.

Lawless Infringement of Freedom

Personal freedom and liberty – and freedom from the arbitrary exercise of government power – are strongly correlated with a healthy economy, but America is descending into tyranny.

Authoritarian actions by the government interfere with the free market, and thus harm prosperity.

U.S. News and World Report notes:

The Fraser Institute’s latest Economic Freedom of the World Annual Report is out, and the news is not good for the United States. Ranked among the five freest countries in the world from 1975 through 2002, the United States has since dropped to 18th place.

The Cato institute notes:

The United States has plummeted to 18th place in the ranked list, trailing such countries as Estonia, Taiwan, and Qatar.

***

Actually, the decline began under President George W. Bush. For 20 years the U.S. had consistently ranked as one of the world’s three freest economies, along with Hong Kong and Singapore. By the end of the Bush presidency, we were barely in the top ten.

And, as with so many disastrous legacies of the Bush era, Barack Obama took a bad thing and made it worse.

But the American government has shredded the constitution, by subjecting us to indefinite detention, taking away our due process rights, deploying drones above our heads, spying on all Americans, and otherwise attacking our freedoms.

Indeed, rights won in 1215 – in the Magna Carta – are being repealed.

Economic historian Niall Ferguson notes, draconian national security laws are one of the main things undermining the rule of law:

We must pose the familiar question about how far our civil liberties have been eroded by the national security state – a process that in fact dates back almost a hundred years to the outbreak of the First World War and the passage of the 1914 Defence of the Realm Act. Recent debates about the protracted detention of terrorist suspects are in no way new. Somehow it’s always a choice between habeas corpus and hundreds of corpses.

Of course, many of this decades’ national security measures have not been taken to keep us safe in the “post-9/11 world” … indeed, many of them started before 9/11.

And America has been in a continuous declared state of national emergency since 9/11, and we are in a literally never-ending state of perpetual war. See this, this, this and this.

In fact, government has blown terrorism fears way out of proportion for political purposes, and “national security” powers have been used in many ways to exempt big Wall Street players from the rule of law rather than to do anything to protect us.

So lawlessness infringement of our liberty is destroying our prosperity.

Lawless Initiation and Prosecution of War

It is well-documented that war destroys the economy.

Top U.S. government employees lied us into war, and used illegal torture, assassinations and other crimes of war in prosecuting the wars they unnecessarily started. They were – at a minimum – criminally negligent for failing to stop 9/11 (and see this).

In the name of fighting our enemies – the U.S. has directly been supporting Al Qaeda and other terrorist groups for the last decade. See this, this, this, this and this.

Our use of torture has also created many more terrorists than it has prevented.

Security experts – including both conservatives and liberals – agree that waging war in the Middle East weakens national security and increases terrorism. See this, this, this, this, this, this, this and this.

Indefinite detention, drone-strikes on innocent civilians, occupation of foreign countries, and most of America’s other tactics in the “war on terror” increase terrorism.

Terrorism feeds the cycle of war … and is thus harming our economy. (And because terrorism spooks people, they spend less, which further harms the economy).

So lawlessness in starting and prosecuting war is destroying our prosperity.

Postscript: We’re not facing a “fiscal cliff”. We’re facing a descent into lawlessness. Stopping the fraudulent schemes, endless bailouts and imperial adventures is the place to start.

This entry was posted in Business / Economics, Politics / World News. Bookmark the permalink.
  • http://bigdanblogger.blogspot.com/ Big Dan

    Specifically, it’s lawlessness of the 1%.

    • Christian Adams

      Try 0.0001%. It is they who are capable of so much lawless evil, magnified by so many trillions of dollars. Don’t buy into Soros’s 99% BS. That was only created to incite division and class warfare.

  • charlieprimero

    Good summary. I’m old enough to remember when people would have laughed uproariously at the idea these things you list could even occur.
    Now they are so commonplace people ignore them.

  • Collapse Report

    Best Article of the Year – CollapseReport.com

  • J. Bookly

    This excellent article explains why all those left vs right arguments sound more and more like the unintelligible voices of the “adults” in a Charlie Brown special. It isn’t liberals vs conservatives, it’s the feudalists vs the rest of us. When a critical mass of people “get” this, maybe something resembling the rule of law could be reinstated.

    • http://www.facebook.com/people/Peter-Wood/1372107847 Peter Wood

      Good analogy, people of this country have got to stop thinking as republican or democrat and start again to think as United States of America’s protectors. We are citizens of the USA.

      • Dutch

        I used to post that exact statement on message boards 10 years ago and almost without exception people used to hurl scathing responses to it. Now I imagine few would or could present much of an argument to the contrary.

        Wish I could find all those people, line them up, and give them a collective bitchslap (if you were one of them, give yourself one for me ;) . Imagine if they had listened back then. We may still have a fighting chance. But sadly in this reality we don’t.

  • eric swan

    Excellent summary. Especially sobering is the idea that the elite want to take us all the way back to the dark ages. Were it not for the net and the courageous providers such as the author of this article I would be far less well informed. THANK YOU!
    Guns are flying off the shelves in my small town which gives me hope that people are aware of how dangerous our government has become.

    • Blair T. Longley

      Yeah, that was an excellent article!

  • http://corporatewhoredomsandtheamericankleptocracy.wordpress.com/ Christina Marlowe

    The so-called DEBT, and the manufactured Panic surrounding it is nothing but a pure contrivance. Like almost all other nonsense, this confabulated “issue” is broadly bandied around by the corporate shills is nothing but a colossal SCAM; It is nothing more than a RUSE, a TOOL used specifically by the Republicans to distract, confuse and stupefy people.

    The FACT is that the monied Power Elite have been intentionally Bilking everyone down the line, by way of a massive Scheme to Defraud; and ruthlessly Plundering (i.e. extraction by Theft) all the world’s natural resources; and indeed Hoarding ALL Hard Currency (MONEY), ALL Other Assets, along with significant natural resources.

    The Robber Barons, the monied Rulers, do POSSESS, ALL to themselves, approximately 46 Trillion U.S. Dollars that they’ve secretively stashed away in various TAX-FREE HAVENS. The so-called DEBT, any “shortages,” are a direct result of HOARDING. Period. The Criminal-Tyrants have indeed been actively absconding all WEALTH, including U.S. citizens’ Tax Dollars, for themselves.

    In FACT, The entire financial system, Wall Street, the Banks, the Corporate Governors, and the entire Kleptocratic U.S. Government, is built on FRAUD; and THAT Scheme has been deliberately engineered by the tiny Ruling Class, i.e. the Robber Barons, the Tycoons, The Trillionaires.

    These unconscionable power-mongers, specifically but not limited to the Republican Party, only seek to continue the totally disastrous, utterly ruinous policies of more Deregulation of ALL industry; The Thoroughly corrupt Privatization of all previously PUBLIC sectors; And the rest of the world can just simply DIE OFF. They don’t care A WIT.

    By the way, the newly-coined term “ENTITLEMENTS,” are NOT “Entitlements.” That is a contrived term used only just recently and nowadays to make the very programs that all U.S. citizens have PAID into for YEARS, look and seem like undeserved WELFARE. It is NOT: The FACT is that the multitudes of U.S. citizens who have diligently paid their taxes, have paid into Social Security and Medicare, for many long years, indeed deserve what they’ve already paid for all of their wretched lives.

    So, if these government hacks want to bring up the debt, the very debt that they themselves created through their own thoroughly failed and still- failing policies over the last four decades, I propose a referendum vote:

    Retract entirely and completely, every health care benefit that government HUMPS get on OUR, the TAXPAYERS, BACKS. Everyone, every last one of them, is to be included: the entire Congress, i.e. the House and Senate for those of you who know NOTHING; each and every department; Every filthy parasite that clings to the government teat, all on OUR, the Taxpayers’, BACKS.

    And then, they would all have to do just as WE DO: That is, to buy flagrantly inflated, anti-American, for-Profit Health Care “Insurance” i.e. ONE OF THE BIGGEST SCAMS IN HISTORY. Oh, and just as soon as one of these worse-than-useless HUMPS gets sick and needs health care, let the Insurance company CEO DENY COVERAGE and unceremoniously PULL THE PLUG.

    As to AUSTERITY MEASURES, let’s CUT OUT every single one of their other endless, obscene benefits, that we the Taxpayers pay for: their secret service, their limousines, and LET’S CUT THEIR SALARIES by 100%. And if they can’t afford to live high on the hog, all off of OUR tax-payer dollars, Let them ROT on SKID ROW where they TRULY belong; And let THEM apply for “ENTITLEMENTS”–Only to be DENIED.

    And this:

    There is one and only one “solution” to both the American and the entire Global problem of the thorough “financialization” of the Kleptocratic, Corporate-owned and Corporate-Run [Corporate Takeover] Fascist Dictatorships that have enthroned themselves to power. Here it is:

    The CRIMINALS must be THOROUGHLY PROSECUTED for their CRIMES. Absolutely NOTHING will “change,” much LESS get “better” until AND unless THAT happens. Indeed, if the CRIMINALS are ALLOWED to continue to PLUNDER, it will, in FACT, only get WORSE. MUCH WORSE.

    ALL criminals involved in these monstrous, reprehensible, PATHOLOGICAL financial CRIMES, which were clearly, totally and willfully collaborated as a gigantic Scheme to Defraud and totally BILK the very citizens of this, our country, the United States, and, um, the entire world, MUST PAY.

    Each one of these Criminals must be Indicted, Prosecuted to the fullest extent of THE NEW LAWS, (all of which will be made retroactive) and, finally, actually PUNISHED SEVERELY; Let me be perfectly clear: Each CRIMINAL that is found GUILTY in the Courts of Law, whether by a judicious Judge or by a Jury of his/her “peers,” shall be held fully accountable for their [blatant] CRIMES, and penalties will surely entail STIFF terms of imprisonment, along with the lawful SEIZURE of ALL ill-gotten gains.

    We all know, for example, that George Bush, Dick Cheney…that list goes on and on; And let’s not forget Jamie Dimon, Lloyd Blankfein, Richard Fuld, Hank Paulson, Larry Sommers, Timothy Geithner, Alan Greenspan; And an astonishingly dizzying and countless number of all the other CRIMINALS; All should be on the TOP of the list for the vigorous investigations and thorough prosecutions and then PRISON FOR LIFE.

    Make no mistake, We MUST HOLD each of these thoroughly Monstrous, pathological Serial FELONS/PREDATORS/Criminals FULLY ACCOUNTABLE for their outrageous crimes of Fraud, Scheme to Defraud, Financial Elder Abuse, and countless other very serious Felonies. If we don’t, then good riddance anyway to everyone.

    In fact, every last one of these filthy criminals should be publicly EXECUTED by HANGING; In FACT, I will VOLUNTEER. These are utterly insane indeed Crimes Against Humanity.

    With Pure Contempt,

    Christina Marlowe

    • Robert Hewett

      OH MY FREAKIN’ GOD! MARRY ME!

      • http://corporatewhoredomsandtheamericankleptocracy.wordpress.com/ Christina Marlowe

        HAAAAAA!!!!!!!! You’re PERFECT, Robert Hewett!!

        • Anglo Saxon

          @ Christina Marlowe … your long comment would be perfect if you could remove and erase your unhelpful use of the left vs. right (Republican vs. Democrat) paradigm. I dare say there are just as many Democrats who deserve a public hanging as there are Republicans. I could suggest another and more accurate dichotomy: Internationalists (Globalists) vs. Nationalists (Community Champions). What do you think? Otherwise, let us get the rope ready. We already have plenty of lamp-posts. We need to start making examples out of the worst of them.

          • Jeremy Poynton

            Go long on piano wire…

          • http://corporatewhoredomsandtheamericankleptocracy.wordpress.com/ Christina Marlowe

            INDEED!!!! Democrats are just as Filthy as Republicans. Here:

            How to Rule:

            1. Keep the overwhelming majority of the population focused on carefully-crafted delusions, most notably effective is the oft-used and totally contrived “Left” versus “Right” paradigm;

            2. Feed the population, constantly and consistently, outright lies and complete fabrications, all whilst totally convincing population, through any form of trickery, Convince population to believe things that are simply NOT TRUE; LIES.

            3. Use so-called buzz words (such as “God,” “Guns, “Patriotism,” “American [Exceptionalism]” etc., etc.), while simultaneously using fear tactics (“Terrorism,” “Communism,” “Fascism,” etc., etc.) in order to prop up or legitimize all conspired-confabulations;

            4. No matter what, ADAMANTLY DENY ANY AND ALL FACTS; CONVINCE people that each of their now-strenuously-held “beliefs” (which actually, in reality, are delusions based on outright deceit, LIES) convince the people that their “beliefs” are TRUE, RIGHT, RATIONAL and WORTH FIGHTING FOR;

            5. Blatantly pit separate groups of people against each other, heavily using all media, in order to keep each group insanely confused, hysterical and belligerent with increasingly irrational fear(s), as they become more and more preoccupied with their delusions and self-righteousness;

            6. Feed the fire: Instill hugely inflated Sense of Rightness (self-righteousness) through wholly-manufactured “evidence;” This particularly useful form of trickery, by the way, is often found disguised as religion, in which any one will do;

            7. Merely repeat the words “GOD,” “GUNS,” etc. etc. Ad Infinitum

            And, with that, the Amoral robber barons have their whole voting base: an utterly deluded, insanely confused and totally brainwashed population, busily fighting tooth and nail directly against themselves and against their own self-interests, liberally fed with deliberate and outright lies and wildly inflammatory rhetoric.

            The good news, however, is that TRANSPARENT OPPRESSION is NEVER FOREVER. NOT ANYWHERE IN THE WORLD…Even here in “FREEDOM-LOVING,” “GOD-FEARING,” [WAR-MONGERING, GUN-TOTING] AMERICA…

            On Balzac…
            I now know beyond any doubt whatsoever that, as Balzac wrote, “Behind every great fortune, there is CRIME.”

            These cretinous billionaire “people” should be tarred, feathered, paraded around in dunce caps and handcuffs, and then summarily and unceremoniously EXECUTED, preferably HANGED, in a public square. They are, each and every one of these CRIMINALS, the true dregs of society; They offer nothing at all of value; Rather they suck away at society and everyone that crosses their vile, reprehensible paths.

            As for Obama, I say to him: Listen up, MAN…If you don’t hold the criminals accountable for their CRIMES, your precious “Legacy” will be pilloried by the FACT that YOU, SIR, are a LYING DEMON, cut from the very same cloth as your buddies in the Banks and on Wall Street that bankroll you.

            Furthermore, you are, without any doubt, to quote Cornell West now,
            “A black mascot of Wall Street oligarchs and a black puppet of corporate plutocrats.”

            To further quote West on Obama, “And now he has become head of the American killing machine and is proud of it.”

            What a Disgraceful TRAVESTY.

    • http://www.facebook.com/mark.kaulius Mark Kaulius

      Ah..you forgot bill clinton, barak obama, al gore, barney frank, chris dodd, harry reid, nancy pelosi, diane feinstein, barbara boxer, and a thousand other democraps at the federal, state, and locla level

      • http://corporatewhoredomsandtheamericankleptocracy.wordpress.com/ Christina Marlowe

        Every one of them, yes.

  • Jonny
  • Jonny
  • gozounlimited

    Non-the-less …. I Love You Too. My Heart Is Full…..Thank You….. (It feels so good)…..(WE CAN DO THIS AS LONG AS WE WANT)!!!!!! MC!!!!

  • http://profile.yahoo.com/OO5WNO6XJUJMO4U7VR2PAKTSBU ConnieP

    As individuals, it is difficult to do anything about the corrupt at the top of the pile but we can make changes locally. I learned this during the Ron Paul campaign. If each of us understands what is coming and starts to educate those around us at a local level (friends, family) and make sure they understand how important it is to know their history again, know how the money collapse is going to affect them and to prepare, do what they can to help get honest people into office, and know the Constitution. The Constitution has the answers if our leaders would take their oaths seriously. I really enjoy listening to Ron Paul talk about this. He has been warning Americans for decades that the dollar decline was coming. What we have now is nothing less than a bunch of corrupt wolves fighting for the last piece of the pie. And they don’t care if the American people starve. But Dr. Paul sees hope because he’s seeing the young people turning towards the Constitution and freedom. He sincerely believes we are going to be in better shape as a nation in 10 years than we are today. He is an astounding human being (though he’d never believe you if you told him) and his farewell speech said it all. As free individuals, we still can educate our neighbors on how to survive the coming dollar collapse. We can still educate others on what happened and how we can recover if the right things are done. Our founders fully understood what happens when banks manipulate the money supply through inflation. Early Americans suffered through the hyperinflation of the Continental dollar and this is why they put in the Constitution that only gold and silver could be used as legal tender. No economy on a fiat currency backed by nothing has survived. President Nixon took us off the gold standard completely in 1971 in favor of a total fiat currency. The only reason we haven’t collapsed before now is because we are (but not for long) the reserve currency. Other countries still had faith in our dollar and held their reserves in dollars. This is coming to an end. The founders saw the manipulation of money as a SERIOUS business. They had it punishable by death if anyone destroyed the currency. That’s how serious it was to them. And now we can see how serious it is too. We’re going to have to suffer through a terrible “correction” before we’ll ever restore a healthy economy. But we have to go through it. What needs to happen is a hands off approach similar to what President Calvin Coolidge did for the depression of 1920. He allowed the “correction”. It was severe but only lasted about a year. It led to one of America’s most prosperous decades; the Roaring 20s. The Fed could never contain natural ups and downs of a free market. It was sold to the American public as an entity that could stop them; we’ve had 13 since it’s beginning in 1913 including the Great Depression. The reason the Great Depression was so severe and lasted over 10 years was because of the interference and central economic planning (Keynesian economics). Obama’s economic adviser is also a Keynesian (Romney’s was also a Keynesian). They think you can manipulate the interest rate of a currency (inflate the money supply or deflate at will), buy all kinds of goodies with tax payer money endlessly, and fund endless wars with no repercussions. They are wrong and we are seeing in full display. We have to work at a local level. Teach our families and friends what is happening. Make sure our elections at a local level are straight up honest. Do everything we can to get freedom-loving individuals in office. Make sure they understand the Constitution and that they will uphold it. Don’t just put trust in them when they say it. Ask them how they are going to vote on specific issues. For example, going to war needlessly is unconstitutional. And Congress is to declare those wars. We are not supposed to go to war with only the executive branch’s say so. If they support unconstitutional bills such as the NDAA which was just passed by the Senate this past Thursday, you know they aren’t taking their oaths seriously. The NDAA has a provision in it that allows the military to arrest and detain American citizens without jury nor trial indefinitely. It is our Constitutional 6th amendment of the Bill of Rights that guarantees a speedy jury trial. They are shredding the Constitution and we MUST at a local level alert others to their actions and votes. Stop thinking along the lines of groups rather than individuals. We all have talents to do what we must as Americans. It is our moral obligation to our children and future generations.

    • Brian Thiesen

      http://www.youtube.com/watch?v=2ssrcD5GdPQ then pass this to everyone you know, and yourself watch, this is what is happening and what happened. If you want to know how the whole banking mess continues YOU MUST learn this also: http://www.yourstrawman.com/

    • Robert Hewett

      First of all, Richard M. Nixon did not have the power to “take us off” the gold standard, that would require a Constitutional amendment. Second, your elections are a sham, easily rigged, and often are. Third, you should start voting with bullets, not ballots, as that is the only political power you have left, and it is quickly dying away as the “liberals” assault the 2nd Amendment.
      Consider yourself “advised”.

  • http://www.facebook.com/howard.lewis.902 Howard Lewis

    Courtesy the political candidates provided to us as the only choices for the past 50 years. Now we must shitcan the CFRtv and the Associated Press, both controlled by the Rothschilds and England, and dig our way out. We done been had.

  • hungry4food

    You guys need to expose the reason why the elite are
    Fundamentally transforming the USA and the world .

    Bond Bubble ? Does
    This have to happen to create the crisis for Global consolidation for
    Supply controls ?

    http://www.businessinsider.com/gerald-celente-bonds-away-2012-12

    http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/23_Celente__This_Will_Usher_In_A_Massive_Financial_Collapse_in_2013.html

    Economic growth at a 4-5 % GDP is barely enough growth to
    generate the revenue needed to balance the entitlements and comments even with
    the cuts , but it can be done … Problem is the Elite are convinced that its
    all not worth it , because of this , watch this Video , and ask yourself how do
    we invest and grow with this issue in the International markets ???

    Listen to the video at 1:45 they say we have been consuming more food than we produce as a world for 6 years NOW !!!

    http://www.youtube.com/watch?feature=player_embedded&v=tF2yHjfj32I

    Urban populations will rapidly strain services, resources

    http://www.cattlenetwork.com/cattle-news/Urban-populations-will-rapidly-strain-services-resources-183058531.html

    That plays into this CNN opinion piece , read the last
    paragraph about a “ The global power shift
    “ , the Bond Market Collapse would bring on such a “ Shift “ .

    http://www.cnn.com/2012/04/08/opinion/gilding-earth-limits/index.html

    I think you have enough
    proof of an attempt to transform the Free Market that People invested in the
    Markets should be made aware of such a manipulation , for risking money when
    these hierarchy are playing this game of musical chairs with the market is a
    crime that people should be made aware of .

    Actually Water is their biggest concern there is not enough and will be the
    next war !

    There needs to be more reporting on what is causing the Policy makers to
    avoid their duty to up hold the Oath of their Office !!!

    It’s because they have no clear view of the future ! And they are drawn
    together only with a vision provided to them by a Globalist elite group who see
    the solution only through the lens of a One Size fits all solution , when we
    the people are one Nation under God and you are right Slingshot we should be
    taking care of ourselves first because we are a sustainable nation and society
    if you look at the fertility charts and enforce Border Laws .

    http://waterambassadorscanada.org/water_crisis.html

    But they have other plans …. and this guy is a adviser to Obama along with
    his colleague and long time Ideologue who follow the lead of the Kissinger
    NSSM200 , http://www.guardian.co.uk/environment/audio/2012/apr/26/paul-ehrlich-depopulation-audio

    Merry X-mas

  • Brian Thiesen

    http://www.youtube.com/watch?v=2ssrcD5GdPQ this is all you need to know about what happened, and im still amazed NO ONE is talking about it, of course after watching it you will know why… we still havent even scratched the surface on who is the problem here!

  • http://profile.yahoo.com/II6P3D3ECY2TPSPQP235UGLXJM fiasco

    Pretty typical paranoid, right wing, wealthy wacko article. Tax the rich; tax Wall St transactions; tax gold/precious metal purchases; tax 2nd & up homes; end stupid wars; cut defense spending – problem solved

    • Robert Hewett

      Pretty left wing wacko response….tax everything that isn’t already taxed, including the air you breath through carbon taxes. How about this, PRINT DEBT FREE MONEY and give the Banksters the KISS OF DEATH. Now, go play in your sandbox little child.

  • http://www.facebook.com/people/Eileen-Kuch/1255873681 Eileen Kuch

    This nation’s founders risked nearly everything to establish the most advanced nation – as far as human rights are concerned – in the history of mankind. The US was the first Constitutional Republic in human history, with a Constitution built upon British Common Law, known as the Magna Carta, which replaced the Divine Right of Kings in 1215 AD.

    Like the Magna Carta, our Constitution (with its Bill of Rights) is the Supreme Law of the Land. Every elected official must place his/her hand on a Bible and swear UNDER OATH to uphold and defend it against ALL enemies, both foreign and domestic. To the Founders, financial manipulation of the economy was taken quite seriously, with the offenders often prosecuted and – if found guilty – hanged in public. That’s how seriously currency manipulation was taken.

    Severe penalties – namely life in prison without parole – must be imposed on the banksters who’ve been plundering the nation’s treasury for decades; and, for Government officials who’ve been betraying the nation and its Constitution, public hanging. This is the only solution to our economy. The illegal bailouts must end NOW; and, fiat currency MUST be replaced by currency backed by gold and silver once again.

  • Makati1

    The plan to destroy the Middle Class of western countries is moving along nicely. When it is over, there will only be two classes of people. The haves and the have-nots. That was the plan all along, but it has taken decades to evolve as it took decades to get the Middle Class in place. This is not a new plan. This is one that has been ongoing since WW2 at least. You have to brainwash the citizens first…then slowly increase their desire to borrow and spend by providing the tools to do so. Now, it is that addiction to free money and cheap stuff and the “American Dream” that will destroy them. All according to plan.

    There is one problem the elite did not count on…peak oil/energy. Mother Nature is slowly putting a monkey-wrench into their plans and if they take much longer to collapse the world economy, they will do so in an uninhabitable world. No winners, just losers. Is 2013 the year it happens? 2014? We shall see.

  • kctruth

    Officials at the Federal Reserve should appreciate the fact that at some point, the populace may have the will and power to rise up, and at the very least, insist the Fed forgives the people’s “debt” to them. Depending on how they react to this development, they may still need hanging.

  • http://www.facebook.com/people/James-Wentz/633384087 James Wentz

    Few people are fully awake to the reality of absolute evil. It does exist, it is very organized, interconnected and extremely well financed. Most of the world today is “really run” by evil men in the shadows. They run a dog and pony show for the public like elections and it seems like politicians are in power when they are not. If they deviate from the script they are given, they are ruined or worse………think Kennedy.

    It is heading into a historical climax of Biblical proportions (inference here is intentional!)

  • http://pulse.yahoo.com/_AT754LLIZ7FNNK34CFOAAP7OSY trigon400

    We hear so much about the plight of those targeted for austerity, but in reality, this group takes more from the taxpayers than the bankers do!
    If you’re not a parasite, then austerity won’t harm you.

  • pduggs

    One of the best articles I have ever read about the banking crisis and the lawlessness we Americans now suffer under. America is a Kleptocracy. When will Americans realize they have lost liberties while gaining a terribly corrupt statist government that enriches and empowers itself?

 

 

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