Week of Mar 9, 2009

dollar-drowns70x112Buying Our Own Debt?
George Ure sounds off on why it’ll work in the short term, BUT what are the long term consequences? Is this really just a snake eating its own tail? Could it be we’re staring down the barrel of the Dollar Death in May?

Masters Do Not Collect Money From Their Slaves
G. Edward Griffin, author and hero, responds to a reader who wonders if the “Shadow Powers” are about to “shoot themselves in the foot”? She asks, So What Happens When We All Are Broke?

Failed Bank Prediction Coming True.
Back in 2007 I warned my friends/family/co-workers of the 25 banks most likely to fail. I closed all my accounts at Wells Fargo (#6 on my list). When I launched Meltdown2011.com in Feb 2008 I published the same warning on this site. 

Last year 3 banks on the list went belly up: Bear Stearns, Lehman, and Wachovia. Now you can check off another handful of banks on the list : 5 Banks Are “Dead Men Walking”.

choose-your-life90x229Gilligan, Anyone?
Here’s a guy who took the three-hour tour and didn’t come back. Downsized outta a nice home + 3 cars for no A/C and hasn’t looked back. Is Grant Pecoff on to something? I love this guy’s paintings. He sez, ready to Give Up? You Can Choose Your Life.

CriMEX
Remember when you could get silver for immediate delivery at just 18 cents over spot? Those days went away after March 2008. Ted Butler explains how the takeover of Bear Stearns by JP Morgan changed this in COMEX Crimes: Your Tax $ at Work. 

Fed-X: Proof for the Sceptics
Do you believe, as Ron Paul does, that the Federal Reserve is the root of all evil in this country? Then you have heard, no doubt, that the Federal Reserve is no more a gov’t institution than Federal Express AND it has no reserves. Here’s proof for the sceptics: “Federal Reserve”: NO On Both Claims

It’s Official: This Plunge Is 2nd Only to 1929
A 70-year-old record falls. With Friday’s close at 6,629.64 the Dow has now dropped more than the previous second-worst-drop on record: 1938. DOW: The 15 Worst Corrections

Camp California
California is suffering thorough a drought so severe the “guvnah” has declared a drought emergency. The Golden State’s unemployment fund is nearly broke. The state itself is on the verge of insolvency and cannot afford to pay residents their 2009 state income tax refunds.

Now, tent cities are cropping up. They’re filled with the newly unemployed and foreclosed. My “Tent City” Prediction Comes True.

7.6 Million To Be Laid Off This Year
This is what CFOs from around the country are planning for. They also expect hiring freezes, wage freezes and employee morale problems. You could say this latest survey says CFOs Abandon Hope.

Are You Ready for the World’s Biggest Bankruptcy?
Iceland has already failed. A list of nations-on-the-ropes might include: Mexico, Bolivia, Argentina, Spain, Italy, Belgium, Ireland and Ukraine.
Tom Dyson has his own views: Next F**cked Country? A Prediction.

The Calculated Destruction of America
What we are seeing NOW, under the guise of “saving” America, is the calculated destruction of America. The insane amounts of borrowed money in the “Obama” plan and that of his Treasury Secretary, the Zionist Tim Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign Relations), will not work for one simple reason: It is not meant to work. Using US to Destroy US

Summer from Hell: US Dollar Collapse 4cast
George Ure (of Urban Survival fame) is talking about “competitive collapse of currencies world-wide” beginning “no later than late May.”

I’ve also watched the LEAP/E2020 European think tank’s economic forecasts with great interest. Now they’re not only predicting the demise of the world’s reserve currency, the dollar, this summer but events equally ominous. Sometimes you gotta go outside the mainstream US media to get the straight scoop. Consider the Think Tank’s 2009 Predictions.

Read about the only indicator I’ve found that has correctly predicted the timing and magnitude of the 1929 crash in Market Predictions for 2009-2010.

 Scott

Checking Off My “To Do” List
WSJ Talks Amero
Sinclair’s Third (and Final?) Warning
Stats Say Yes, It’s a *Depression* 
Warnings & Advice from a Saint, Part 1 KEY INFO
– 2009: Worst Still Ahead 
Best Way 2 Control the Masses
– Uncle Sam’s Gold Grab   
Something of Historic Proportions Is Happening 
Deflation Xforming to Inflation Soon

Shadow Powers Plan for 2011 
Sober Prediction for Nov. 2009 
– Market Prediction for 2009-2010 KEY INFO
 
>> How to Rate Your Bank’s Safety <<
History of the Meltdown… (on-going)

Remember what’s in store for us: What’s Coming R Way

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“Federal Reserve”: NO On Both Claims

abolish-the-fed300x46Congressman Ron Paul’s central theme for the past decade has been this: “Abolish the Federal Reserve.” He’s described it as the root of all economic evil in this country. The Fed’s “Pump-and-Dump” manipulation of the money supply has given us our booms & busts, our recessions & (now) depressions.

G. Edward Griffin, author of “The Creature from Jeckyl Island,” has written extensively on the Fed. He and Representative Paul are in agreement.

monopoly-money150x79I have echoed their claims that the Federal Reserve is neither “federal” nor a “reserve.” Recently, my high-school son decided to create a PowerPoint presentation on the sins of the Fed for a class assignment. He repeated the claim about the Fed being neither “federal” nor a “reserve.” But he needed to cite proof.

The Fed’s quite slippery but here are some intersting “proofs” that have been uncovered.

The Fed’s Not Federal
We look to our Circuit Courts and their rulings to find:
1) Lewis v. United States, 680 F.2d 1239 (1982). [link]
“The Court of Appeals, Poole, Circuit Judge, held that federal reserve banks are not federal instrumentalities for purposes of the Act, but are independent, privately owned and locally controlled corporations.”
2) Kennedy C. Scott v. Federal Reserve Bank of Kansas City [link]
“The Bank states that Federal Reserve Bank employees are not considered federal employees, officials, or representatives for purposes of 12 U.S.C. § 341. The Bank also contends, inter alia, that the plain language of 28 U.S.C. § 451 and relevant case law state that Federal Reserve Banks are not federal agencies.”
“We now hold that the Federal Reserve Bank of Kansas City is not an agency of the federal government for purposes of Fed. R. App. P. 4(a)(1)(B), and accordingly dismiss the appeal as untimely.”

The Fed Has No Reserves
This one’s really tough. Sure, you can go into a lengthy discussion on fractional reserve lending (banks are allowed to lend 97% of deposits). How about the absurdities of Federal Reserve Banks booking their customers’ deposits as liabilities (because the bank must return the customers’ deposits when asked) and the banks’ loans as assets (even though they don’t own the cash being loaned; it’s actually their customers deposits).

But these circumstanses, while true, are not succinct enough for a “statist” public school system to grasp. But look at this: I found the smoking gun on the Fed’s own web site.
http://www.federalreserve.gov/releases/h3/current/h3.htm

Scroll down to the first report shown: “AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE “.

aggregate-reserves-of-dep-institutions_sm

See those negative numbers? The 3,400 banks that belong to the Federal Reserve system are, in total, without ANY cash reserves from Jan 2009 through Nov 2008. ALL the reserves they are required to maintain by US code (only 3%) are BORROWED.

The Federal Reserve Banks had NO cash reserves.

And We The People are left with an unstable currency constantly losing value.

cons-price-inx-since-1800