"Are we really that stupid? It’s not rocket science."

The American people are in La-la land. If they had any idea of what the Federal Reserve was up to they’d be out on the streets waving fists and pitchforks. Instead, we go our business like nothing is wrong.

Are we really that stupid?

What is it that people don’t understand about the trade deficit? It’s not rocket science. The Current Account Deficit is over $800 billion a year. That means that we are spending more than we are making and savaging the dollar in the process. Presently, we need more than $2 billion of foreign investment per day just to keep the wheels from coming off the cart.

Everyone agrees that the current trade imbalances are unsustainable and will probably trigger major economic disruptions that will thrust us towards a global recession. Still, Washington and the Fed stubbornly resist any change in policy that might reduce over-consumption or reverse present trends.

It’s madness.

The investor class loves big deficits because they provide cheap credit for Bush’s lavish tax cuts and war. The recycling of dollars into US Treasuries and dollar-based securities is a neat way of covering government expenses and propping up the stock market with foreign cash. It’s a “win-win” situation for political elites and Wall Street. For the rest of us it’s a dead-loss.

The trade deficit puts downward pressure on the dollar and acts as a hidden tax. In fact, that’s what it is--a tax! Every day the deficit grows, more money is stolen from the retirements and life savings of working class Americans. It’s an inflation bombshell obscured by the bland rhetoric of “free markets” and deregulation.

Consider this: In 2002 the euro was $.87 on the dollar. Last Friday (4-6-07) it closed at $1.34-- a better than 50% gain for the euro in just 4 years. The same is true of gold. In April 2000, gold was selling for $279 per ounce. Last Friday, at the close of the market it skyrocketed to $679.50---more than double the price.

Gold isn’t going up; it’s simply a meter on the waning value of the dollar. The reality is that the dollar is tanking big-time, and the main culprit is the widening trade deficit.

The demolition of the dollar isn’t accidental. It’s part of a plan to shift wealth from one class to another and concentrate political power in the hands of a permanent ruling elite. There’s nothing particularly new about this and Bush and Greenspan have done nothing to conceal what they are doing. The massive expansion of the Federal government, the unfunded tax cuts, the low interest rates and the steep increases in the money supply have all been carried out in full-view of the American people. Nothing has been hidden. Neither the administration nor the Fed seem to care whether or not we know that we’re getting screwed --it’s just our tough luck. What they care about is the $3 trillion in wealth that has been transferred from wage slaves and pensioners to brandy-drooling plutocrats like Greenspan and his n’er-do-well friend, Bush.

These policies have had a devastating effect on the dollar which has been slumping since Bush took office in 2000. Now that foreign purchases of US debt are dropping off.

(More) http://www.informationclearinghouse.info/article17512.htm

It freaked more than a bit. Recommended. This is a must-read.

He looks a bit different than most liberals I know...but he's right on the money...Caution: He's even more to the point and scary. http://www.theinternationalforecaster.com/trainwreck.php?Id=166

Lately he's hasn't been doing his usual weekly reports, kind of bi-weekly these days, don't know if he's sick or what....but check out some of his recent past columns.

I will check him out. See, this is the stuff that the news media should be covering. You'd think with 24 hours in the day, they would cover more than one fucking story.

The republican owned media and the media CEO and corporations are part of this republican, elite power grab out to destroy the middle class...Republican think-tanks have purposely guided this republican ideology & agenda to permanently install a right-wing system in our country to make us low paid and/or slaves to the corporations. And the republicans SS will be there to keep everyone in line and who disagrees...we better do something its inevitable that it going to get much uglier...as the republicans have already stolen & emptied our treasury and adding to our debt each and every day.

As much as possible. What can our congress folx do about it?
Can we possibly please impeach NOW!!!!!!!! Jeepers, what the hell does it take??!!!

"In general, the art of government consists in taking as much money as possible from one class of citizens to give it to the other."

Nothing changes. Ever.

I'm not sure how long ago Greenspan retired, but he's retired.

someone keeps feeding him huge speeking fees, i.e. $150,000 (I say: stop funding him)

`````````````````````````````````````

March 2, 2007

Greenspan Is Still Able to Move Markets

By EDMUND L. ANDREWS

~snip~


But on Thursday, for the second time this week, these private chats
went public, jolting financial markets around the world and upstaging
Ben S. Bernanke, Mr. Greenspan's successor as chairman of the Federal
Reserve.

First on Monday and then again on Thursday, Mr. Greenspan upset stock
markets merely by uttering the word "recession" and saying that one
might but probably would not occur by the end of this year. ~snip~

http://www.nytimes.com/2007/03/02/business/02greenspan.html?ex=1330491600&en=7a4289d52b24c994&ei=5088&partner=rssnyt&emc=rss

I'm reasonably well informed, but I'm not obsessively reading everything all the time like I was doing. I stayed mad all the time.

I highly recommend it. Get a cup of coffee and get comfortable.

The Money Masters the documentary discuss the topics of money (as it relates to central banking and fractional reserve banking), debt, taxes and their development throughout the modern world.

Private central banking and fractional reserve banking The documentary criticizes the control aspects of modern centralized banking systems and regulation. The film uses as evidence the history of money and banking, showing the viewer how central banks came to be what they are today, and how they operate. It supports its assertions by references and quotations from past Presidents and major players in the banking industry.

The Money Masters - Part 1 of 2
1 hr 43 min - Oct 31, 2006
http://video.google.com/videoplay?docid=-8753934454816686947

The Money Masters - Part 2 of 2
1 hr 46 min - Mar 27, 2007
http://video.google.com/videoplay?docid=-7336845760512239683

Most people have no clue that the Federal Reserve is a private corporation.

Thanks for the thread GreenTea

Calling them stupid.

:eyes:

NGU.

and the topic turns to celebrity scandal. We generally don't care because it is a slightly complicated issue and we are, again generally, woefully ignorant of the sham that is our currency system. This last round of devaluation started way back in the 70's, but has been going on since we let them steal our sovereignty by creating the Fed.

And I am in agreement with the author. To put it into an easy understood sentance "We are giving away our future" People who have been saying stuff like this are constantly getting shouted down by the "bull market" folks who refuse to change their stances on any of this-probably because most of them have serious conflicts of interest.

To force the transition to the Amero--common currency of the North American Union. By running the Dollar into the ground, the transition to the Amero will be that much easier to sell to the Sheeple of the country. My only question is how are they going to back the new currency when it's adopted? Any one have any ideas about that one?

Because there's no such thing as rocket science.

There is engineering involved in rocketry, and it's often advanced, complex, and sophisticated work. But it ain't science.

Irrelevant to the discussion, I know, but this has long been one of my buttons.

Maybe not in the way that our soldiers are, but we're sacrificing all right. It just isn't obvious to most people...yet. They'll regret it like the bush voters are regretting ever being taken in.

It is difficult to argue that over its entire history that the Federal Reserve has made things worse for the American people. You can bitch about it, for sure, but do you have a better solution?