Here’s a summary that appeared today on MSNBC.com: (click it to enlarge)
(BTW I like David Walker, but they don’t.)
Like they did in the Great Depression, the Money Powers have engineered the biggest financial meltdown since the 1930s. [link]
It has been planned at least since 2001, when they used the Fed to drop interest rates to create the housing bubble (to replace the dot-com bubble). They will systematically take a wrecking ball to Wall Street, the US dollar, Social Security/Medicare, the Banking System.
They seek to reallocate as much of your wealth as possible to themselves.
The “President’s Working Group on Financial Markets,” a.k.a. the “Plunge Protection Team,” is, in truth, the Money Power’s “Market Manipulation Team.” Their job is to keep the markets from collapsing too quickly: if a financial sector collapses too quickly, their friends wouldn’t have time to move their money to safer havens. Awwww…
You and I are, of course, are not members of their social network.
Timing is important to the MMT. They know they’ve got to get all these sectors to meltdown by 2011, but they don’t want to create a widespread public panic (not ‘til they’re ready). If Joe Sixpack panics he’ll pull everything out of his stock market account and do something crazy, like buy gold.
Can’t have that. There ain’t enough gold to go around!
No, they need to manage The Meltdown so Joe Sixpack (you and I) gets sheared properly and professionally. They will provide beautifully-embroidered words of reassurance from official spokespersons each time they ratchet something one notch lower. The president will make sure we all know “he’s on top of it.”
“It’s in everyone’s best interest to keep calm, stand still while we shear you.”
And here’s just one of the ways they fleece you: last week (yes, just one week) the Fed blew $75 billion to buy up distressed mortgage investment junk from their banking pals.
How much is $75 billion?
Half of all the gold supposedly in Fort Knox
7 times what was originally spent by the gov’t on Katrina aid
150% of the original Iraq War funding request
So, this ain’t chump change. And keeping their friends solvent is more important than helping Joe S. devastated by Katrina.
At least, now you know where you stand with your government!
And, just where does this $75 billion come from. It wasn’t voted on in Congress. “We the People” didn’t say “OK.”
The Fed got it where they always get it: they created it out of thin air. They printed extra dollars to cover it. But, you know there ain’t no free lunch. (You did know that, didn’t you?) We all get to pay for it with inflation.
Every extra dollar that’s put in circulation by the Fed makes every dollar you hold worth slightly less. This is why the US Dollar Index keeps dropping, and why inflation–BIG inflation–is barrelling down the tracks with you and me in its headlights.
A runaway freight train of inflation. Ouch.
Prepare to defend yourselves.
◊◊◊◊ Now: Gold @ $917.12, Silver @ $17.27, USDX @ 71.76 ◊◊◊◊