Mind blowing speech by Robert Welch in 1958 predicting Insiders plans to destroy America

GREECE DEBT CRISIS: Tens of Thousand Angry Demonstrators Paralyze the Capital Athen 3/11/10

What’s a US Dollar Worth? : The Fed, Money as Debt

Over-Arching Sovereign Debt Crisis…do they care??

by Jim Willie, CB. Editor, Hat Trick Letter

Neither the US financial press nor the US bank leaders take the sovereign debt crisis seriously. Even the USCongress seems totally unaware of the growing global intolerance for government debt out of control. The issue is rollover of short-term debt, size of the overall debt burden, borrowing costs to sustain the debt, annual deficits that accumulate further debt, and size of debt versus economic size. The United States projects a certain degree of arrogance that foreigner must continue to finance the USGovt debt at a time when the evidence gathers on loud suspicious activity in the USTreasury auctions. The US travels down a road to debt default also, as the mask of corrupt USTBond management is removed. The plight of Europe will strike the United States and United Kingdom, as contagion is ripe. The claim of containment incites laughter. The Euro currency has finally begun to stabilize, which will make all the more apparent a global bull market in the Gold price. The Gold price in almost every major currency is rising. In the US$ it will be last.

Links Related to Economic Warfare, Currency Devaluation and Worldwide Economic Default

Gerald Celente says It’s Beginning: Financial War is the First Stage of Global War

http://bit.ly/d0lCew

Foreign demand for US Treasury securities falls by record amount as China reduces holdings

http://bit.ly/d0NDfU

Pentagon preps for economic warfare

http://bit.ly/153Mz

The Truth Behind China’s Currency Peg

http://bit.ly/8jCRC5

Marc Faber Says that the United States AND Europe Are Destined for Default

http://bit.ly/9R1qIb

The Elements of Deflation

Thoughts from the Frontline Weekly Newsletter

by John Mauldin

October 23, 2009

One of the advantages of travel is that it gives you time away from the tyranny of the computer to think. (Am I the only one who feels like I am drinking information through a fire hose?) But getting the information is important too, as it gives you something to think about. And I have been thinking a lot lately about deflation.

I get asked at almost every venue where I stop, whether I think we will see inflation, or deflation. And I answer, “Yes.” And I am not trying to be funny. I think the primary forces in the developed world now are deflationary. When asked if I don’t think that the Fed monetizing debt of all kinds won’t eventually be inflationary, I answer, “We better hope so!”

Let’s quickly summarize some of the ideas from the last few months of this letter. Just as water is made up of two parts hydrogen to one part oxygen, so deflation has its own elemental structure.

The first element is Rising Unemployment. There has never been a sustained inflationary period without wage inflation. Wages are basically flat and falling. With 9.8% unemployment, 7% underemployed (temporary), and another 3-4% off the radar screen because they are so discouraged they are not even looking for jobs, and thus are not counted as unemployed (who made up these rules?), it is hard to see how wage inflation is in our near future.

Think about this. Only a few years ago, less than 1 in 16 Americans was unemployed or underemployed. Today it is 1 in 5. That is a staggering, overwhelming statistic. Mind-numbing.

“A trillion here, a trillion there, pretty soon it adds up to real money.”

By Vincent Gioia

It used to be that a billion dollars was a lot of money. Senator Everett Dirksen, a senator back in the age of reason once said “A billion here, a billion there, pretty soon it adds up to real money.” I wonder what the good senator would say now.

We have gone well beyond the idea that a billion dollars is “real money.” Today as we approach the age of socialism real money is measured in trillions of dollars. Of course socialists don’t talk about trillions of dollars; like in everything else they do, success is achieved by “incrementalism” (my word). Incrementalism, when it comes to money, is the Dirksen idea about real money except socialists no longer think in terms of millions, that’s chump change by government standards; no, congress and the president (including the president-elect) talk of the need to spend merely billions of dollars at a time but simpletons like me can add the billions and billions and come up with trillions of dollars the government wants to hand out.

It used to be, before the age of reason expired, that government spending was more or less in line with government income. Since most people paid taxes back then, the idea of raising their taxes was not popular. Today however when not all people pay taxes, the idea of raising taxes sounds pretty good to a large number of voters, citizens or not, because they are on the receiving end of government handouts. Actual working folks who pay most taxes to the government are in the voting minority so it becomes easier to get a majority of voters to be indifferent to increasing taxes or actually proponents of tax increases – that’s how it is in the dawning of the age of socialism.

FLASH: Consumer Credit RECORD Contraction

*U.S. JULY CONSUMER CREDIT WAS FORECAST TO DROP BY $4 BILLION
*U.S. JULY CREDIT CARD, OTHER REVOLVING DEBT FALLS $6.1 BLN
*U.S. JULY NON-REVOLVING BORROWING FALLS RECORD $15.4 BILLION
*U.S. JUNE CREDIT FALLS $15.5 BLN, REVISED FROM $10.3 BLN DROP
*U.S. JULY CONSUMER CREDIT FALLS RECORD $21.6 BILLION, FED SAYS

Forget the so-called “recovery” given these sorts of numbers.

Consumers are unable and unwilling to borrow.

The inevitable contraction that is necessary to put the financial system back into balance is happening – whether The Fed wants it to or not.

This is a roughly 0.8% contraction in one month.

This contraction has to happen – it is on-balance a good thing that it is, in that only by clearing the debt load can be stabilize our economy.

However for those who are looking for evidence of a significant rebound in economic activity you’re going to be disappointed!

The Fed does not have the updated tables yet on their data program; when they do I will re-run my previous credit graphs and post them.

They’re ugly.

http://networkedblogs.com/p11143049

The New, New Normal

By John Mauldin The New, New Normal A Different Perspective on Health Care Staying Rich in the New Normal

We are coming to a critical inflection point, perhaps the most critical point that we have had in 70 years for the US and to a great extent the global economy. The choices we make (or that Congress and the Fed make for us) will affect not just our investment portfolios but business and our jobs for a very long time. Last week I talked about the three paths we face as a nation. I want to go back to that theme and expand upon it. You need to clearly understand what the risks are so that you can interpret the actions and data that will be coming at us in the next few quarters.