February 26, 2009
It was a joke, but not funny. Ben Bernanke, Federal Reserve mob boss, declared in his semi annual report to the Senate Banking Committee earlier this week “there is a reasonable prospect” the “recession” will end this year. The stock market responded with an upward blip of conditional and cynical enthusiasm.
|Helicopter Ben, Obama, Congress, and much of the corporate media still refuse to tell the truth — we’re in a depression, not a recession.|
Helicopter Ben, Obama, Congress, and much of the corporate media still refuse to tell the truth — we’re in a depression, not a recession. The cable news shows tell us Obama’s “stimulus” bill will make things right, when in fact the latest thinly disguised boondoggle — coupled with the multi-trillion dollar banker bailout scams — will soon usher in crushing hyperinflation.
It was meant to be this way. It was designed to turn you into a share cropper, a peasant, a modern day version of a serf indebted to the international bankers.
It is quite a toxic stew — stock market on the fall, corporate bankruptcies, bank failures, insurance failures, cities and states on the verge of bankruptcies, a foreclosure epidemic, government bond collapse, pension plans looted, the credit markets in a deep freeze… and yet Bernanke tells us we’ll be fine soon as we get past the rough patch.
Ben and Obama have the answer — more government spending and more debt for our children and their children. In other words, the answer to a crisis created by indebtedness is more debt. It’s like giving a shivering alcoholic a case of Special Brew to cure his alcoholism, as Niall Ferguson, professor of history at Harvard University, so eloquently put it.
Bad credit is the Special Brew for government. A banker compromised Congress created the Federal Reserve System, Fannie Mae, Freddie Mac, Ginnie Mae, Sallie Mae, the Federal Housing Administration and the Federal Home Loan Banks, and that’s just the beginning. Government directly encouraged the indebtedness of four out of five home-related borrowers. The national debt of the United States officially stands at $10.802 trillion, or about $37,851 per capita and 65.5 percent of GDP, although this figure is seriously understated due to off-balance sheet obligations, that is to say money we owe the bankers but the government is not telling us about.
In fact, the “obligations” of the federal government come in around $65 trillion, a figure that exceeds the gross domestic product of the world.
Instead of working to deflate the astronomical debt bubble, Obama and the Democrats are pumping it up. Never mind what the talking heads say on CNN and MSNBC — reading from their government, i.e., banker, scripts — the “stimulus” bill will not cure anything. It will make the situation far worse.
“Expected federal borrowing for 2009 and 2010 will be far from modest, and the consequences will be significant for interest rates — and potentially crippling for the economy,” writes J. D. Foster, an economist at The Heritage Foundation. In other words, Obama and crew will actually increase the cost of mortgages, not lower them. Obama is telling sweet little lies, as Fleetwood Mac might put it.
It was designed this way. The bankers print, regulate, and inflate our money supply through the Federal Reserve, the mother of all “debt engines,” as Ron Paul has called it. The privately-owned Fed will now “monetize the debt,” that is to say the bankers will turn on the printing presses in order to meet Treasury debt “obligations,” including the “stimulus” bill, actually a debt-creation bill that will do the opposite of what Obama and Congress tell us it will do.
Meanwhile, as Bernanke lamely attempts to reassure us about the “recession,” the banker-owned government is gearing up for the coming fallout. CIA White House intelligence reports now concentrate on “the global financial crisis and its cascading effects on the stability of countries through the world,” according to the Washington Post. “The addition of economic news to the daily roundup of terrorist attacks and surveillance reports appears to reflect a growing belief among intelligence officials that the economic meltdown is now preeminent among security threats facing the United States.”
Last December, a report issued by the U.S. Army War College warned that the banker engineered economic crisis “could lead to massive civil unrest and the need to call on the military to restore order,” as the El Paso Times phrased it. “Widespread civil violence inside the United States would force the defense establishment to reorient priorities” from going after manufactured terrorists such as al-Qaeda to going after the American people.
Retired Army Lt. Col. Nathan Freir characterized what is to come as an “unforeseen economic collapse.”
On the contrary, the economic collapse was planned well in advance. “From now on depressions will be scientifically created,” declared congressman Charles A. Lindberg Sr. after the Federal Reserve was established in the dead of night.
The very same science is at work today. It will eventually reduce us to peonage if we don’t stand up and and demand the bankers be arrested and tried for treason — and sooner before later.