Wednesday, September 29, 2004

The Coming Financial Catastrophe

IGNORE DANGER SIGNS OF THE COMING FINANCIAL CATASTROPHE AT YOUR OWN RISK
PART 1
By: Devvy
September 28, 2004
NewsWithViews.com

"There may be a recession in stock prices, but not anything in the nature of a crash." - Irving Fisher, leading U.S. economist, New York Times, Sept. 5, 1929

Americans are listening to the wrong people about the economy, specifically John Kerry and George Bush, Jr. They constantly talk about our strong economy, how many jobs they will create and how many trillions of dollars they will spend promising the moon to the mob at every campaign stop. This is not unusual. In the last weeks of the 2000 election, Marxist Al Gore, his paid mouthpieces and the great programmer's (TV) high paid experts, were all chanting that Bill Clinton's administration brought America the strongest economy in 50 years. As soon as Gore conceded, the politicians and media began telling everyone Bush is facing a recession and it would be his greatest challenge!

In roughly 34 days, America went from riches to rags. Amazing! But, the signs of an economy in trouble were already there during the Clinton administration and the stress began to emerge: On December 5, 2000, Montgomery Wards, after 75 years in business, announced they would close their doors forever, shutting down 250 stores and 10 distribution centers nationwide. This doesn't happen overnight to a big company like Wards, it takes years. On January 5, 2001 Sears Roebuck announced the closing of 89 stores.

These two retailers had been major staples of America's retail landscape. Thousands of employees were thrown out of work. Consider the trickle-down effect: truckers for both companies would no longer travel, buy gas or have those trucks maintained. Loss of dollars for businesses on their routes. Employees from those two conglomerates end up on unemployment and many on welfare when they couldn't find jobs and their unemployment ran out. Loss of dollars for all ranges of businesses in their local areas. This type of financial deterioration takes years to hit the boiling point.

On December 25, 2000, the business section of the Sacramento Bee has finally exposed something few care about: The utter and complete devastation of our steel industry because of NAFTA & GATT. LTV Corporation, the No. 3 U.S. steel company in America filed for bankruptcy protection, blaming unfair imports for driving steel prices to 20-year lows. The meltdown begun when NAFTA was signed into law in January 1995 continues destroying our critical job bases. We will see more of this meltdown escalate because of these unconstitutional, destructive, global trade treaties.

June 30, 2004 Associated Press: "U.S. Chamber of Commerce President and CEO Thomas Donohue announced more plans to promote the offshore outsourcing of jobs as a means of boosting the economy and even increasing employment --Donohue believes exporting high-paid tech jobs to low-cost countries such as India, China and Russia saves companies money that they may use to create new jobs for Americans....CEOs from Wall Street to Silicon Valley have embraced the theory, and the pace of offshoring has shocked statisticians and economists."

That's good for America, right? What bunk. Shipping American jobs overseas to increase the bottom profit line for stockholders is killing the middle class. The above referenced article had more good news for stockholders: "The job outlook in the San Francisco Bay area is particularly bleak. Nearly one-third of local workers, or 31 percent, are worried about losing their jobs." They should be worried. Motorola is hiring 5,000 researchers for a global research and development center in Communist Beijing, while Intel employs hundreds of researchers at its Russia Software Development Center in Nizhny Novgorod. Americans can feel good knowing a commie in Beijing now has their good paying job while they had to take a minimum wage job just to eat, never mind being able to afford medical benefits. But, this is all good for American workers, right?

Probably the most revealing comment in the same article came from Forrester Research Inc., analyst John McCarthy when he said, "Endlessly debating whether off shoring is good or bad is pointless -- like debating whether you've had a good trip on the Titanic while the iceberg comes into view....For the unemployed guy to accept these business leaders position is like believing Dick Nixon saying, 'Trust me, I'll take care of it all, things will be fine.'"

Working against American interests

The U.S. Chamber of Commerce is rabidly anti-American and every single independent business owner in this country should walk away from that organization. I have traveled extensively through the states of the Union and I can tell you I have seen hundreds of towns reduced to nothing because of NAFTA & GATT. Once thriving little communities, these towns are now empty of businesses and commerce, their young being forced into big, crime infested inner cities in an effort to find work. I have seen the despair as factories and farms have shut down. Globalism at work and it will get worse. You can help by buying Made in the USA. Just go to my web site, scroll down and you'll see information on how to do it. I buy made in America or I go without. I will NOT contribute to the further destruction of American jobs just to buy a "thing."

Factually challenged Marxist John Kerry, an old reprobate drug out of the caverns of Congress as the anointed one to represent Democrats in the upcoming Presidential election, continues to deliver more drivel about the economy, i.e., proposing tax reforms that would erase some financial incentives for companies to export high-paid jobs. Kerry's solution is no solution, just more double speak. Bush's solution to a strong economy is shipping more jobs off U.S. soil via "free" trade. If you think I'm just blowing smoke, look at this map and see the truth.

America is moving towards service oriented jobs and those paychecks won't support those big SUV payments and mortgages running close to two grand a month - even with two incomes. If the horrific anti-American Free Trade of the Americas treaty (FTAA) is illegally ratified by our counterfeit Senators, it will spell the death knell for our legitimate Constitutional Republic. Think I'm blowing smoke? This is as serious a threat to our sovereign Republic as we have ever faced since the war for independence.

If the two million textile workers who lost their jobs over NAFTA & GATT and now work for half what they were making before think those treaties are bad, the FTAA will make NAFTA & GATT pale in comparison. Mark my words: America is being reduced to third world status while greedy corporations send good jobs overseas. Sell your stock and don't buy their products; a list of companies is found here under Exporting America. Use market forces to re-establish our critical job bases. Tell retailers you want Made in America or you will take your cash someplace else.

The coming financial crisis that can't be stopped

Make no mistake about it: there is a financial crisis coming that can't be stopped unless drastic measures are taken in the next couple of years. The chances of throwing out every member of Congress (except Ron Paul and Tom Tancredo) are slim to none and this bodes disaster for our nation. The seniors will flock to polls in November to vote for Democrats who have given them "free" prescription pills and motorized carts at your expense. The so-called conservatives will vote for Mr. Bush because he talks about God a lot. In the meantime, the massive invasion of our nation by illegals continues unchecked, our critical job bases are disappearing and our freedoms are going right down the chute of a one world totalitarian government.

America's middle class have continued to vote themselves out of jobs because they vote for the Democratic Party which promises to be "the friend of the worker". Nothing could be further from the truth. Democratic administrations, the same as every Republican administration and every Congress since 1913, has lied to the American people about the voluntary nature of the income tax, withholding from their paychecks, the 100% voluntary nature of social security and a litany of other critical issues.

Poverty is growing in America despite the astronomical amount of taxes being unlawfully bled from the people. Sadly, too many still think their "income" tax funds the federal government, but it doesn't. Because tens of millions of Americans don't have the inertia or intellectual capacity to grasp anything more complicated than the TV guide, they will just continue clanking their chains and allowing the fruits of their labor to be stolen from them. When government steals the fruits of your labor, you are a slave.

There is no reason for poverty in a bountiful land such as America. In 2002, 34.9 million Americans didn't get enough to eat each day; more than 13 million were children. Not through any fault of their parents, but because good paying jobs have been wholesaled off U.S. soil, family farmers have been driven off the land by corporate greed and the FED. Americans have destroyed their own job bases by supporting politicians in Congress who have betrayed this Republic by supporting these destructive and unconstitutional trade treaties. The result is American workers in the bread line while populations of foreign countries now have the jobs that should have stayed here for our people.

I have been telling Americans for the past 14 years what is coming, but few will listen because Americans are too afraid of the truth. They don't want to know what's just over the horizon. They want their material comforts and fun times. A recent article was published that must be read by everyone (here). Carolyn Lochhead has laid it out in frightening detail - all the numbers of what is going to happen in four short years when the baby boomers retire - 77 million of them. The numbers in Ms. Lochhead's article are accurate. There is no money in the U.S. Treasury to fund those numbers. The borrowing by Congress to fund their immoral and unconstitutional wars, UN dues, 18% of the IMFs budget, billions in corporate welfare, trillions in foreign "aid," all these social welfare programs and basic government functions continues to rack up debt at a rate of $1.69 BILLION dollars a day from an empty treasury. Quite a trick.

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IGNORE DANGER SIGNS OF THE COMING FINANCIAL CATASTROPHE AT YOUR OWN RISK
PART 2
By: Devvy
September 28, 2004
NewsWithViews.com

Congress: A body of lawbreakers working for a one world government

Did you know that in a senate new bill there is a provision for the "International Youth Opportunity Fund" on page 177, Section 509? This is another program that will be funded from your wallet to" improve and provide education and opportunities to children in the Middle East." That's right. $40,000,000 will be stolen from you for the 2005 budget in this bill. There isn't a scintilla of constitutional authority to steal your labor to send to foreign countries to build and fund schools. Because the U.S. Treasury is empty, the money will have to be borrowed from the private Federal Reserve and your children and grand babies will be paying on the interest until the day they die. This insanity is in a bill to "fight terrorism."

Page 184 of this abomination carries a $200,000,000 (that's two hundred million dollars) funding for fiscal year 2005 for a "Middle East Partnership Initiative." Again, neither Congress nor Bush (or Kerry) have a legal leg to stand on to steal from the American people to give our hard earned money for this "initiative," but it will happen unless this bill is stopped. As there is no money in the U.S. Treasury, that two hundred million bucks will have to be borrowed from the private "FED" and the interest will get slapped on your back for the rest of your life as well as your children and grand babies. Go ahead, spend the weekend reading that bill and see what's in store for our nation under the deceptive label of "fighting the war on terrorism." What bull.

The lawbreakers in Congress have passed or agreed to (September 24, 2004) another blatantly unconstitutional rape of the American people: The Comprehensive Peace in Sudan Act of 2004, Senate bill S. 2781. Yes, the slaughter of humans in the Sudan is nothing short of mass murder on a scale too horrible to contemplate, but it is going on while the world has stood by and watched. Yes, every government on this planet should be putting extreme pressure on the government there to stop such a grotesque insanity. However, the U.S. Congress has absolutely no authority whatsoever to involve itself in stealing from you to give to the Sudan. This bill contains a provision to give the Darfur region $200,000,000 million dollars for fiscal year 2005 and another $100,000,000 million dollars to the same after a peace agreement has been reached.

There is no money in the U.S. Treasury for Congress to unconstitutionally throw at yet another foreign country. Yes, the conditions there are beyond what most people in this country can imagine, but that's what private charities and foundations are for: humanitarian relief. And yes, my husband and I have donated for those agencies we feel are actually effective in bringing relief. But, it is not within the authority of the U.S. Congress to steal from you to give to a foreign country, no matter how great the need. The Constitution is very specific about this, but the banking cartel that owns the White House and Congress love it. Right now you are working from January until almost June to voluntarily pay "income" taxes to the Federal Reserve - not to finance a single legitimate government function, but to enrich the bankers and believe me, the bankers love this type of plunder of the American people.

For those unfamiliar with how this rape of the American people works, let me quote from the Congressional Record, House, September 29, 1941, page 7583, Congressman Wright Patman on this very issue:

"Mr. Speaker, our Government debt at this time is approximately $50,000,000,000. By the time that it's paid, it will aggregate $100,000,000,000....The amount of 100 percent is due to the interest charges....I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money....I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue. I make that statement after years of study.

"I have talked to the Secretary of the Treasury and members of the Federal Reserve Board and other people who are supposed to know about the money system of our country. They know this can be done easily and conveniently and will save money.... We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is because it says "Federal Reserve." It belongs to private banks, private corporations. So we have farmed out to the Federal Reserve Banking System that which is owned exclusively, wholly, 100 percent to the private banks - we have farmed out to them the privilege of issuing the Government's money!"

This rancid system of borrowing money from the privately owned "Federal" Reserve is why Congress doesn't want the income tax to end. Congress will continue raping the American people for unconstitutional expenditures as outlined above with borrowed money from the "Federal" Reserve. The American people by the millions have been demanding that Congress shut down the FED as Andrew Jackson did during his Presidency. They won't and nothing will change until every single one of these lawbreakers in Congress (except Ron Paul and Tom Tancredo) are thrown out of office in November. Sadly, too many Americans won't vote out the hand that feeds them and will selfishly allow this plunder to enslave their children and grand babies for the short term gain.

War is good for the economy

America's economy is on its death bed and the Gold Dinar/oil scenario will further exacerbate the situation by making a serious threat to the dollar and the privately owned Federal Reserve Banking System. Few Americans have any idea about oil except the nickel increase at the gas pumps. They haven't spent the time to educate themselves in understanding that oil rules the world and when the oil producing countries begin demanding gold for oil, the "stuff" will hit the fan. It's just a matter of time before all of this comes to fruition.

The "fix" by either Bush or Kerry will be another major war to save the dollar and the central bank. Then watch a mandatory draft for men and women sail through Congress and get signed by either Bush or Kerry - despite Kerry's promises today that he won't institute a draft. Wars are good for the economy. Wars employ lots of people in the defense industry and when those employees have paychecks, they spend in the community, spreading those dollars around town. It doesn't matter whose blood drips from the paper money, good times and heaping plates of food will tamp down their doubts and guilt. After all, it will be for the never ending "war on terrorism" and that's good for America, right?

The effects of what Ms. Lochhead has so succinctly laid out in her article will be felt long before the event. Americans were caught so unaware in October 1929, mother's didn't even have the ten cents to buy milk for their babies because the banks closed their doors. People jumped out of buildings or put a bullet in their head. They all listened to their favorite politicians and leading economists of the time tell them how great the economy was and that Wall Street was doing fine: "Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months." - Irving Fisher, Ph.D. in economics, Oct. 17, 1929.

Twelve days later, the stock market crashed. In two months, September and October, the stock market shed 40% of its value and by the end of November, investors had lost $100 billion dollars in assets.

I don't like to pen such a negative article, but I have time to do the hard research where most American's don't because of work and family obligations. Americans have a right to know the facts so they can take the necessary steps to protect themselves and their families. For the past five years I have warning people to diversity their portfolio, at least 25% of it into gold because gold doesn't lie, politicians do. I urge people to begin the process of protecting your assets and seriously consider purchasing gold so that if the power brokers decide to pull the plug, you won't be caught like our fellow countrymen were in October 1929; don't look to ATM machines to save you. Give Harvey Gordin at El Dorado Gold a call. There's no obligation to buy anything. I've known Harvey for many, many years and bless him - when someone calls, he spends so much of his time helping people to understand just how dire the situation is and how they can help themselves.

Debt is not prosperity and America is drowning in debt. Without credit cards, the American economy would collapse within 48 hours. The point of no return where the transfer payments to the privately owned "FED" can't be met, even if every single working American handed over their entire paycheck to those thieving scoundrels is looming. Add that to the numbers contained in Ms. Lochhead's accurate presentation of a very bleak situation and you will hear the coming financial train wreck of a total economic collapse. Those who think Bush or Kerry will save them better think again.