The economy is on it's last legs despite what the media portrays. No matter where you look we are heading into the most desperate times. All governments are strapped for cash, and even though they can print all they need, that too has consequences and creates more problems than it solves. Here are some of the reasons that a collapse could happen at any time.
"The blueprint for what is happening today was foretold in a speech given by Ben Bernanke to the National Economists Club, Washington, D.C. November 21, 2002. There was 5 main points to take from the speech. The first 4 have already happened, the last was if the other 4 didn’t work Bernanke would devalue the US Dollar." Read the full report Here.
This is the next step. Japan recently accelerated the currency war with their massive money printing and the EU and the Fed are not far behind. Currency wars always result in devaluation as it becomes a race to the bottom. Venezuela and a few other countries have already devalued their money and more will follow.
The US dollar is quickly losing it's world reserve status. Many countries are making pacts with each other to trade in their own currencies and by pass the dollar. This will have devastating effects on the economy. According to Money News "The greenback is declining as a percentage of the world’s currency supply. Compared with its peers, it has dropped to a 15-year low, as nations show a willingness to use other currencies to conduct business, according to the International Monetary Fund. The dollar’s share of global money supply has plunged from nearly 90 percent in 1952 to approximately 15 percent. Bove stated that “the Chinese yuan, the yen and the euro each have a greater share of that total,” according CNBC. “To the degree that China succeeds in increasing its market share of the world’s currency market, the United States is the loser,” Bove said. “For years, I have been arguing that the move of the Chinese makes perfect sense from their point of view but no sense for the Americans.” Read the full article Here.
And then there is Cyprus. This event shocked the world and set a new precedent. Now no bank accounts are safe anymore. It's only a matter of time before this happens again. As I said, governments are DESPERATE. They will do anything they have to do to get money and if that means stealing pensions or deposits, they will do it. How would you like to check your bank account on Monday morning and find that you only have half as much in it. Think this can't happen?
Lindsay Williams who had contact with the elite for several years was told many things that would happen. Here are some of them. "Gold and silver are the money of the elite." "Anything you hold in paper you will lose" "When they begin buying their own debt, it's all over" Have we seen these things happen yet? Well, the central banks around the world have increased their purchase of gold and silver substantially recently. Pensions are in danger of being seized, deposits have been taken, and more of the same is in the works. And the Fed is buying the US debt through QE3.
Much more can be said about this, but even taking these examples it's indicative of what is coming. And as someone said "It's better to be a year too early than a day too late". So what do we need to do to protect ourselves? Get ready for the worse and hope for the best. Instead of keeping all of one's money in one bank, open several bank accounts. Buy a lock box and keep cash at home. It's a lot easier to deposit it back into the bank than to take it out. Buy some gold and silver. Store up some extra food and water. Get out of debt. Stay informed, on the internet, not from TV news. And most important of all, believe in Jesus Christ as your saviour. God Bless You All.
Showing posts with label US economy collapse. Show all posts
Showing posts with label US economy collapse. Show all posts
Monday, April 15, 2013
Monday, January 7, 2013
The Irony Of 47.7 Million Americans Subsisting On Food Stamps
By Frosty Wooldridge
As of November of 2012, a mind-numbing 47.7 million
Americans subsist on taxpayer-funded food stamps. One in seven Americans
cannot feed himself or herself with a job or work of any kind. What
constitutes the irony to this national tragedy? Answer: our U.S. Congress
imports 100,000 legal immigrants into the USA with green cards every 30
days.
No matter how much poverty and unemployment blacks, whites
and Hispanic Americans suffer– the leaders of this country continually pound
more humans into the mix without pause. At the same time, food banks go
belly up with bare shelves. Over 13 million American children live in destitute
poverty and cannot secure three square meals per day.
While Congress supports our enormous military spending into
the trillions of dollars and two 10 year long wars that devour (ed) money—it
fails to create jobs and feed our poorest. It fails the fundamental
rights of our own citizens to work and eat.
The gross statistics created by our U.S. Congress:
(Source: hubpages.com)
#1 According to one calculation, the number
of Americans on food stamps now exceeds the combined populations of “Alaska,
Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa,
Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New
Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah,
Vermont, West Virginia, and Wyoming.”
#2 In October 2008, 30.8 million Americans were on food
stamps. By August 2012 that number had risen to 47.1 million Americans.
#3 Right now, one out of every seven Americans is on
food stamps and one out of every four American children
is on food stamps.
#4 It is projected that half of all American
children will be on food stamps at least once before they turn 18
years of age.
#5 According to new numbers that were just released by
the U.S. Census Bureau, the number of Americans living in poverty increased to
a new all-time record high of 49.7 million last year.
#6 The number of Americans living in poverty has
increased by about 6 million over the past four
years.
#7Today, about one out of every four workers
in the United States brings home wages that are at or below the federal poverty
level.
#8According to the U.S. Census Bureau, the poverty rate for
children living in the United States is about 22 percent.
#9 Overall, approximately 57 percent of all children in the
United States are living in homes that are either considered to be either “low
income” or impoverished.
#10 In the United States today, close to 100 million Americans are
considered to be either “poor” or “near poor”.
#11 One university study estimates that child
poverty costs the U.S. economy 500 billion dollars each
year.
#12 Households that are led by a single mother have
a 31.6 percent poverty rate.
#13 In 2010, 42 percent of all single mothers in
the United States were on food stamps.
Once you research the numbers, you cannot help but look to
your own U.S. Senators and House reps and see failure, duplicity and
corruption. No excuses! How could men and women who are supposed to
represent American citizens continually leave American citizens in the grips of
poverty, joblessness and homelessness?
Some kind of moral, ethical and spiritual wrong grows in the
nation’s capitol all the way up to the president. American citizens
become its victims.
Do you think there is any chance of it changing and becoming
better as that same U.S. Congress adds over 3.1 million immigrants every year
on our way to adding 100 million immigrants within the next 38 years?
Thursday, November 1, 2012
The Game Is Up: US Financial System Is Heading Towards A Major Collapse As QE Bubble Created By The Fed Is About To Burst
S&P each Fed action: QE1 +50%, QE2 +30%, Twist +18%, QE3
& Twist +8%… so QE4 +4%, QE5 +2%, and QE6 +1%…
It seems the market – or the collection of pre-programmed
heuristic biases that make up the equity investing public (and machines) – is
slowly but surely realizing the confidence trick that is the Fed’s Quantitative
Easing programs. The following chart should clarify – to anyone placing
their gambling chips on the hopes of another round of easing from the Fed – why
the game is up. To wit, the reverse geometric progression of S&P 500
performance during each Fed action: QE1 +50%, QE2 +30%, Twist +18%, QE3 &
Twist +8%… so QE4 +4%, QE5 +2%, and QE6 +1%…
Chart: SocGen
Save this chart, so when all your pathetic Facebook
“friends” ask why the stock market crashed 30%, you can post this chart and
show them how the Fed created their latest bubble! So easy, even an Obama phone
using, EBT card using, food stamp using, facebook junkie can get it!
As they struggle to save for retirement, a growing number of
middle-class Americans plan to postpone their golden years until they are in
their 80′s.
Nearly one-third, or 30%, now plan to work until they are 80
or older — up from 25% a year
ago, according to a Wells Fargo survey of 1,000 adults with income less
than $100,000.
“It is so tough for Americans to save for retirement that
the answer seems to be to work longer,” said Joe Ready, director of Wells Fargo
Institutional Retirement and Trust.
Ron Paul: “Never in American history have we needed to adopt
a policy of laissez faire more desperately; never has government seemed more
determined to artificially prop up an industry”
The ultimate result of these interventions by our caring
friends in Congress and the Fed has been the biggest housing bubble and crash
in US history, leaving millions of Americans underwater on their mortgages if
they have not already lost their houses altogether. Congress and the Fed
are directly responsible for millions of shattered lives, and almost unknowable
economic damage in the form of trillions of dollars in mortgage backed
securities.
The only solution to this mess is to allow the US housing
market to clear. All of the bad mortgage debt must be liquidated, whether
via foreclosure or bankruptcy. Banks holding substantial mortgages or
mortgage backed assets must face the music and adjust their balance sheets to
reflect today’s reality. Undoubtedly this will force many banks into
immediate insolvency, but such banks must be allowed to fail without receiving
another nickel of taxpayer money. Banks took the risks and made money
during the bubble years; those who exercised bad judgment must now accept the consequences
of their actions.
Never in American history have we needed to adopt a policy
of laissez faire more desperately; never has government seemed more determined
to artificially prop up an industry. But only by allowing the
housing market to clear can we hope to rebuild our shattered economy from a
stable foundation. Clearly there will be pain in the short term, but we
owe it to younger Americans and future generations to allow the reemergence of
a rational housing market.
During the presidential debates and on the campaign trail,
former Governor Mitt Romney has focused many of his attacks on China. Accusing
them of “manipulating their currency” to gain and unfair trade advantage
against the U.S., Romney has promised to isolate China on his first day in his
office in part of a broader hawkish policy towards China. But not only is
Romney wrong to demonize China, he completely ignores the real currency
manipulators: the U.S. Federal Reserve.
In classic politician doublespeak, Romney’s accusations
against China are a few truths mixed in with a lot of lies, pandering and
propaganda. While it is true that China has been keeping the value of its
currency artificially low over the last decade, this has been largely in
response to the U.S. doing essentially the exact same thing for four decades
now.
Since 1971 when President Nixon infamously defaulted and cut
all gold ties from the dollar, the U.S. government and the Federal Reserve have
been printing trillions of dollars as part of a deliberate strategy to boost
U.S. exports and harm nations exporting goods to the U.S. China holds hundreds
of billions worth of U.S. government bonds of debt and has been repaying its
creditors, like China, with increasingly devalued dollars.
…
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