"We are going to see a major change in our way of life. What does this mean for you? Here it is in as simple of terms as I can possibly make it:"
"1. Inflation will skyrocket. If you are in the market for new clothing, expect the price for common, ordinary garments to quadruple overnight. Food, even the basic staples, will become so expensive that the largest percentage of what we spend out of our paychecks will be used just to stay alive. The poorest among us will have trouble merely surviving.
2. Paper money will be basically worthless. That means those dollars we use to purchase goods and services will have absolutely no real value any longer. The dollar, at that point, will have been so thoroughly devalued that it will be worth only the paper its printed on. Unless you have invested heavily in gold and other precious medals, you will be big trouble.
3. Gold and precious medals, which have intrinsic value of their own, will become vastly important. At present, the price of gold has skyrocketed to over $1000 per ounce. This means that a gold coin that at one time carried a value of $20 will now be worth over $1000. Those who have bought these gold coins and bricks as a hedge against inflation will be in a good position to weather the coming storm. Those who have not will be at the mercy of the coming economic storm where goods and services will quadruple in costs and where their paper money will be basically worthless.
4. Starvation will become common. Homelessness will overwhelm American society. Businesses will go under. Joblessness will sweep over the nation, setting us on a course to either match or outmatch the unemployment numbers of the Great Depression."http://www.examiner.com/x-3704-Columbia-Conservative-Examiner~y2009m10d13-What-the-demise-of-the-dollar-means-for-you
What’s Happening 11/5/09 *Total Economic Collapse – The Swindle* Pt 1
“Fascism should rightly be called Corporatism as it is a merge of state and corporate power.”~ Benito Mussolini.
Turn off your television.
There is an impending terrible danger to every American that is happening NOW… & the media is silent.
Americans have again been lulled to sleep by the liars & the pitchmen…
And the SHARK that took a nip out of us last year is about to drag us under.
Right before our very eyes, our Country is being robbed barren and transformed into a Fascist Corporate-State.
Protect Yourselves as God leads…
“What’s Happening” editions & much more are now available online at http://areyouawakeyet.ning.com
Everything Is Happening Now!
Oct 13 2009
By: Jim SinclairMy Dear Friends,
Everything we have discussed here for many years is NOW taking place.
Everything we have suggested is coming is NOW on your doorstep.
Any ideas of trading have been smashed not only by common sense, but also by the flash systems against which you do not stand a chance.
All precious metals companies with materials in, on top or mining will succeed in market terms.
All shorts in both precious metals shares and gold itself will end up covering in a less than comfortable manner.
Gold will trade at $1250 and $1650 before seeking Alf’s and Armstrong’s prices.
The US dollar is nearing a severe crisis period that will occur this winter.
Middle American business is facing severe difficulty with a collapse of CIT or even a failure to refinance to a comfortable level a potential crisis-producing event. CIT is to Middle America what Lehman was to the financial industry.
There is very little to add today with one exception: Have you protected yourself?…
Government Reports Point to Fiscal Doomsday
Martin D Weiss
When our leaders have no awareness of the disastrous consequences of their actions, they can claim ignorance and take no action.
Or when our leaders have no hard evidence as to what might happen in the future, they can at least claim uncertainty.
But when they have full knowledge of an impending disaster ... they have proof of its inevitability in ANY scenario ... and they so declare in their official reports ... but STILL don’t lift a finger to change course ... then they have only one remaining claim:
And, unfortunately, that’s precisely the situation we’re in today: Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly:
- The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore ...
- The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.
- The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.
- Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.
- Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!
- And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint...
Yes, the great government bailouts of 2008 and 2009 have bought us some time ... but they have promptly proceeded to sell us into bondage.
Yes, they have given us safe passage over tough seas ... but only to throw our assets onto the global auction block for the highest bidders.
The one bright spot: Unlike some governments, ours does not conceal the evidence of its folly. Quite the contrary, the proof pours forth from these three government reports in relatively blunt language and unmistakably blatant numbers ...
What the demise of the dollar means for you
October 13, 12:34 PM
Anthony G. Martin
It would be too easy for readers to dismiss such talk as the musings of those who get their jollies from engaging in economic lingo, while missing the enormous consequences that the demise of the dollar will have on our everyday lives.
For several months you have read the warnings issued by economists and columnists, including this writer, concerning the devaluing of the dollar and its ultimate demise. But what, exactly, does this mean for you, the citizen?
We are speaking here of a cataclysmic, seismological blow to our way of life as Americans.
One of the primary reasons Americans enjoy an affluent way of life when compared to much of the rest of the world is the primacy of the dollar as a world currency. Oil, for example, is bought and sold using the dollar. Thus, dollars are being pumped into various economies around the world for one reason alone--it is in great demand. This helps the American consumer by keeping the value of our currency up, keeping inflation down, and keeping our goods and services affordable to the masses.
But what happens when the dollar is devalued? Or worse still, what happens when global entities, such as the oil barons, stop using the dollar as their currency?
Here is where you and I come into the picture…
The ultimate demise of dollar reserve status
November 3, 2009
By Joseph Edozien
On continued thought, it seems increasingly difficult to avoid the murky conclusion that the ultimate demise of dollar reserve status is the implicit monetary policy of the United States of America.
But it is…
Both the rhetorical and policy responses from the monetary authorities in the United States to the not so veiled undermining of confidence in the global currency reserve status of the dollar from other monetary authorities, notably from China and Russia, have been remarkably tepid and timid. This diffidence is not normal for America, and is therefore thought-provoking.
This of course raises the quite awkward question of why and how patriotic monetary authorities in the United States could possibly see merit in implicitly colluding in the debasement of the perceived value of its own sovereign currency…
Remember the safety net that we’ve had?….
The FDIC is bankrupt
The Net is Gone.
Citigroup (C), JP Morgan Chase (JPM), Wells Fargo (WFC) and Others to Lose FDIC Debt Guarantees
October 20th, 2009Some of the nation’s largest financial companies, including Citigroup (NYSE: C), GE Capital (NYSE: GE), JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC) and others will no longer have certain debt guaranteed by the federal government through the FDIC’s Temporary Liquidity Guarantee Program as of October 31st.
The FDIC voted on Tuesday to end the Temporary Liquidity Guarantee Program that is being used to guarantee certain debt issued by some of the nation’s largest banks, but also setup a 6-month safety net facility as part of the process. All five members of the FDIC’s panel of regulators voted to end the program as scheduled on October 31st.
New debt can be issued and guaranteed under the program up until the deadline. The deadline on the newly placed debt would expire no later than December 31st, 2012.
FDIC Chairman, Sheila Bair, stated, “It should be clear that this is not a continuation of the program but an ending of the program…
(PLEASE UNDERSTAND… THE SAFETY NET IS G O N E )
Be Prepared for the Worst
Ron Paul, 10.29.09, 09:20 AM EDT
The large-scale government intervention in the economy is going to end badly.Any numbers of pundits claim that we have now passed the worst of the recession.
Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are the same people who insisted that the economy would continue growing last year, even while it was clear that we were already in the beginning stages of a recession.
A false recovery is under way. I am reminded of the outlook in 1930, when the experts were certain that the worst of the Depression was over and that recovery was just around the corner. The economy and stock market seemed to be recovering, and there was optimism that the recession, like many of those before it, would be over in a year or less. Instead, the interventionist policies of Hoover and Roosevelt caused the Depression to worsen, and the Dow Jones industrial average did not recover to 1929 levels until 1954. I fear that our stimulus and bailout programs have already done too much to prevent the economy from recovering in a natural manner and will result in yet another asset bubble...
Good thing the “Stimulus” & the “Bailout(s)” (read: “Stolen”) Trillions taken from us and given to the banks are working…
Capmark Financial files for bankruptcySun Oct 25, 2009
NEW YORK, Oct 25 (Reuters) - Commercial real estate company Capmark Financial [CPFNG.UL], one of the nation's largest commercial-real-estate lenders, filed for bankruptcy protection on Sunday, undone by declines in the sector and a heavy debt load related to its leveraged buyout.
The company was created out of the commercial real estate assets of General Motors' finance arm GMAC in March of 2006. According to the bankruptcy filing, GMAC owned 21.3 percent of the company's stock while an investor group, which includes Kohlberg Kravis Roberts & Co. [KKR.UL], Goldman Sachs Group's (GS.N) Goldman Sachs Capital Partners and Five Mile Capital, owned 75.4 percent…
Commercial lending giant CIT files bankruptcy
Government to likely lose $2.3 billion it spent to prop company up last year
Mon., Nov. 2, 2009
NEW YORK - Lender CIT Group has filed for bankruptcy protection, in an effort to restructure its debt while trying to keep loans flowing to the thousands of mid-sized and small businesses.
On Monday, CIT Group Inc's bankruptcy case was assigned on Monday to U.S. Bankruptcy Judge Robert Gerber, the same judge who oversaw the recent reorganization of the automaker General Motors Co…
Citi Abruptly Shutting Down Gas-Linked Credit Cards
Vince Veneziani|Oct. 20, 2009AP: Shannon Burdette tried to pay with her Shell Mastercard after filling up her gas tank this weekend but found the card rejected.
Confused, she called the customer service line on the back of the card, issued by Citibank, and was told the account was closed…
At least someone is doing well as America bleeds…
Goldman Sachs May Reap $1 Billion in CIT Bankruptcy (Update1)By Dakin Campbell
Oct. 5 (Bloomberg) -- Goldman Sachs Group Inc. is set to earn about $1 billion should CIT Group Inc. enter bankruptcy …
The Great American Bubble Machine
From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again
MATT TAIBBIPosted Jul 13, 2009 1:49 PM
Previous Next Page 1 of 7
The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who's Who of Goldman Sachs graduates…
Don’t believe what you see in the “Mainstream Media”… These are not people trying to dutifully report the “News”…
These are actors… nothing more… they simply parrot the lines given to them by their Masters in D.C.
Oh, and the “Economic Experts” you see in the “MSM”?
The ones squealing *Recovery!!!* daily?
Doesn’t anyone remember this?
March 9, 2009: In Cramer We Trust
Jim Cramer recommends buying Bear Stearns two weeks before it collapses…
And people still believe what Mr. Cramer says… to this day.
The bankers own the media… through corporations & outright…
Media Rules Complicate Restructurings
BY MIKE SPECTOR AND SARAH MCBRIDEWall Street lenders are tripping over federal media-ownership rules as they find themselves the unexpected owners of several distressed radio, television and newspaper companies.
The issue has taken center stage at Citadel Broadcasting Corp., as one of the U.S.'s largest radio broadcasters races to revamp its balance sheet. Citadel has offered senior lenders owed $2 billion -- including J.P. Morgan Chase & Co., General Electric Co.'s GE Capital and ING Groep NV -- a deal that would exchange a big chunk of debt for equity, people familiar with the negotiations said…
Does this sound like Recovery?
Maybe desperation… or maybe an intentional attack…
Hisssss (Citibank Overpressure Warning?)
Friday, October 23. 2009To recap what this says (this is the second page of the letter that was posted in The Ticker yesterday:)
- Standard "purchase" interest rate is going to 29.99%.
- The "default rate" is also now 29.99%.
- The cash advance fee rate is now 5% (most were 2% previously, but I do not have the previous value for this account or for Citibank in general.)
I have since confirmed that this letter is not just going to people who have had credit "challenges". Indeed, this appears to be a blanket change on the part of Citibank. I now have multiple copies from people who assert that they have 750+ FICOs and have never missed a payment on this or any other obligation - the "paragon" of so-called "responsible" credit use. All of the letters are identical.
The problem should be obvious - for someone with one of the 12.99% cards that is now 30%, this is a radical change that more than doubles monthly interest expense. Of those who have sent me copies of this letter and disclosed their previous rate, none were over 20%, meaning that these changes represent 50% or greater interest rate increases. If you're anywhere near the edge of being unable to pay, this will shove you off the bridge and into the deep, shark-infested water of bankruptcy.
But more important, I believe, is what this says about what's really going on in these banks. Many simply put this out there as a "response" to the pending credit-card legislation, and note with irony that the bank that is most-owned by taxpayers (Citibank) is the one doing the worst screwing of the consumer.
But is it that simple? After all, given the extraordinary support that the taxpayer has put into Citibank (they would be literally out of business several times over but for our support) would not Treasury stomp on this sort of abuse? Remember, Barack Obama is supposedly "for the people" and "change in Washington and on Wall Street", right?
Perhaps there something more dangerous - and hidden thus far - going on here?...
Please don’t believe that the money you’ve deposited into your bank is safe…
And the ones elected and appointed to protect us from predatory banks &
Are WOLVES… dressed as Sheepdogs…
More FDIC Malfeasance: 43% Loss
Friday, October 23. 2009
As of September 30, 2009, Partners Bank had total assets of $65.5 million.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $28.6 million.
Again, we see that the FDIC refused to step in and close this institution when the firm's Tier Capital Ratio (based on an actual market value for assets) went below 6%, 5%, 4%, 3%, 2%, 1% and flat.
Indeed, the FDIC not only allowed all of the firm's Tier Capital (that is, their EXCESS CAPITAL) to be wiped out, but then allowed the bank to continue to operate until its asset base was destroyed to the tune of 43% of "face value" before stepping in and closing the institution.
Prompt Corrective Action - a LAW, not a suggestion - is supposed to prevent this outcome. It is being wantonly and willfully ignored by the OTS, OCC, The FDIC and CONGRESS.
This level of loss is unconscionable and Sheila Bair, along with everyone involved in bank regulation at The Fed and the various Treasury departments (OTS, OCC and FDIC) must be held to account for their willful and intentional blindness.
What is the actual value of assets in our nation's banks - including the really big ones like Bank of America, Citibank, JP Morgan and Wells Fargo?
How can anyone possibly believe, given the overwhelming history of the last two years in this crisis, that the nation's banks are claiming and carrying their assets at anything close to their actual value when we continue to see, week after week, losses to the deposit insurance fund proving that close to half of the claimed "asset value" in these seized banks is a pure, unadulterated fiction?...
The one’s we’ve elected to represent and protect us are robbing us…
Behind the panic: Financial warfare over the future of global bank power
By F. William Engdahl
Online Journal Contributing Writer
…It is becoming clear Paulson, and his friends at Citigroup and JP Morgan Chase, had a strategy, as did the godfather of asset backed securitization and deregulated banking, former Fed Chairman Alan Greenspan.
Knowing that at a certain juncture the pyramid of trillions of dollars of dubious subprime and other high risk home mortgage-based securities would come falling down, they apparently determined to spread the so-called ‘toxic waste’ ABS securities as globally as possible, in order to seduce the big global banks of the world, most especially of the EU, into their honey trap.
They had help. In recent testimony under oath by Eric Dinallo, the superintendent of the New York Insurance Department at the AIG bailout oversight hearing into the AIG rescue by Paulson, Dinallo said that funding cutbacks in recent years directed by the Bush-Cheney administration had reduced the responsible department that should regulate or watch over the $80 trillion in asset backed securities (ABS), which included the toxic subprime and Alt-A mortgage securities and much more.
The Bush administration cut the staff of more than 100 people down to one -- yes that was not a typo.
One as in ‘Uno.’
Was that just ideological budget cutting fervour, or was it deliberate? Was former Goldman Sachs’ man, the man who convinced the president to hire Paulson, Bush’s former director of the Office of Management and Budget (OMB), Joshua Bolten, now the president’s chief of staff, responsible for insuring there was no effective government oversight of the exploding securitization of mortgage assets?...
The foxes are firmly in our henhouses…
SEC Names Goldman’s Storch as Enforcement Unit Operations Chief
By Joshua GalluOct. 16 (Bloomberg) -- The U.S. Securities and Exchange Commission named Adam Storch, a 29-year-old from Goldman Sachs Group Inc.’s business intelligence unit, as the enforcement division’s first chief operating officer...
Glenn Beck Clips 07-15-09 You Won't BELIEVE The Goldman Sachs Governmental Ties Chart!
And they’re protecting their thievery
In a move set to infuriate and send many Zero Hedge readers over the top, the NYSE has taken action to make sure that nobody will henceforth be able to keep track of the complete dominance that Goldman Sachs exerts over the New York Stock Exchange. This basically ends our weekly Program Trading updates disclosed every Thursday indicating that Goldman has singlehandedly captured all of NYSE's program trading...
Right before our very eyes… the Corporate State emerges…
Goldman Sachs & J.P. Morgan Quietly Buying Up the MediaEvery since the Corporations have bought up the media, the very idea of ‘honest journalism’ has been a joke in America.
I grew up with the likes of Edward R. Murrow and Walter Cronkite – I KNOW what real and honest journalism is all about.
The ‘propaganda’ corporate machine that rules the airwaves now, is nothing more than a tool to control the message/masses, and at all costs…
And since this Company and our Government have become one… the further damage that they can and will inflict on Americans is immeasurable…
Goldman: Get Ready For Oil Prices To Go Back To $147
Jay Yarow|Aug. 6, 2009
Goldman Sachs is once again warning the world of a coming spike in oil prices that will remind everyone of 2008...
Goldman Pillages, Goldman Steals, Goldman Sachs…Meanwhile, the SEC stood by and watched as naked short selling destroyed Bear Stearns and Lehman Brothers. Merrill Lynch then took itself out of the game, leaving a Bulge Bracket consisting of only Goldman Sachs and Morgan Stanley.
Of those two, which has uncommon influence over the federal government?
Goldman Sachs, of course.
And if this is true, does it leave any doubt as to the lengths the SEC might have gone to preserve a corrupt system when it benefited the company?..
And then we gave them (they stole) Billions in “Bailout” money… which they’re not going to pay back…
Bailout watchdog expects much to remain unrefunded
Wed Oct 21, 2009WASHINGTON — The man who watches over the $700 billion in government money given to banks and other institutions to avert a financial collapse said Wednesday he thinks it's too early to say how much will be repaid to the taxpayers.
Just as the Obama administration prepares to announce a new TARP-like program for small community banks, Inspector General Neil Barofsky said he believes that "it's unrealistic to think we're going to get all of that money back."…
Because they can find much better things to do with it… why repay us?
Goldman Sachs 2009 bonuses to double 2008’s; $23 billion could send 460,000 to Harvard, buy insurance for 1.7 million families
Tuesday, October 13th, 2009
Yesterday, we brought you the insurance company that wouldn't insure a 17-pound infant because he was too heavy. Today, we bring you the investment bank that manages to double its bonuses during the worst recession since the Great Depression…
Apparently, the birth of our brand-new Fascist Corporate-State is, like all births, painful…
As evidenced by these 19 recently-dead bankers…
These Are DEAD Bankers
And last but certainly not least… from the making an appearance from the DISTRACTION that dominated the “News” as the final rape of America began…
Madoff Client Jeffry Picower Netted $5 Billion—Likely More Than Madoff Himself
by Jake Bernstein, ProPublica - June 23, 2009 12:28 pm EDT
Jeffry M. Picower is alleged to have taken in $5.1 billion as a result of fraudulent returns from Madoff accounts…
But no matter how much you steal or how many Nations you destroy, you still can’t take it with you…
Top Madoff Investor Found Dead in Florida Pool
Monday, October 26, 2009
PALM BEACH, Fla. — The death of Jeffry Picower, accused of profiting more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, will make it more difficult for suing investors to recoup their money, attorneys said...