The Federal Reserve is Engineering the Economic Collapse
To most Americans, the Federal Reserve is just another name on their dollar bill. They don’t know that this secretive private bank controls America’s entire economic system. The Federal Reserve is no more federal than Federal Express. Created with no constitutional authority in 1913, the Fed prints money out of thin air and loans it to the U.S. treasury at interest. This can only lead to one outcome: debt. Currently, the Federal Reserve is printing billions of dollars to bail out Wall Street while destroying the middle class and the dollar. If our country wants a sound and transparent monetary system, we need to phase out the Federal Reserve system giving power back to the U.S. treasury.
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http://www.campaignforliberty.com/
Duration : 0:7:12
What can we do to help solve the current global economic crisis?
This week, while we citizens continue to lose our jobs, our savings, and our patience; the Group of Twenty Finance Ministers and Central Bank Governors (aka the G-20) will convene in London to try to figure out some solutions to our global economic crisis.
Since this is truly an international problem, we’re asking this question on all of our international Answers sites, too. The Best Answers will be featured in a coming blog post. So, let’s give our economic leaders something to think about! We look forward to all of your opinions and ideas.
Back to Swadeshi
Up to now the world politicians and the capitalist believed that capitalism would not fail under any circumstances but the current economic crisis world over is a clear reflection of failure of capitalism (America) and its consequent effect all over the world. As the overall impact of the recession around the world is due to the crash of the American Economy, I have occasionally mentioned America in this answer, my due apologies to my American friends if their sentiments are hurt.
Failure of commodity market!
The beginning of 80’s saw a new trend infact a new term initiated by America, OUTSOURCING. Over the last decade America has been gradually making redundant employees, closing industrial units and outsourcing cheaper goods from around the world, specifically China and creating employment elsewhere. America was once proud of its strong consumer base and Capitalism, as the list of outsourced goods grew, local employment opportunities started shrinking and also gradually shrinking was the buying power of average Americans. The same American consumer which was once its strength? Approx two million Americans have lost their jobs just in one calendar year 2008 itself. All the countries that followed suit had the same impact.
Failure of Financial Market!
While financial market did not had much impact due to outsourcing of labor force but the reason for the failure has been same as that mentioned above its reason has been same as above failure of commodity market. While funding of loans has been quite liberal in America, from where an unemployed consumer is suppose to pay for his loans. Economist may say that crash of stock market may be the reason for the loses but it is the other way round the stock market collapsed due to the mounting irrecoverable bad debts of individual institutions.
Surprising!
The same industrial houses who over decades have made thousand’s of billions in profit by shifting manufacturing basis outside America in the name of cost advantages have never passed any of these benefits to the consumer and America has seen higher inflation year to year and never tried to delve into the causes until they were making profit and the treasury was receiving the taxes. Surprisingly, the same corporations are queuing for government aid for their survival.
Every day few billion dollars are added to the original aid and have lost count of overall aid whether it is US $ 2000, US $ 3000, US $ 4000 billion …….. Will this help to revive the economy the American Economy is still not ready even to crawl. Some of the leading American industrial and financial houses, banks, and insurance and pension funds are almost bankrupt and asking for more financial aids from the US Government for its survival.
Who runs the economy?
It is neither the so called great industrial houses or banks or economist or politicians but it is the simple CONSUMER he is the true power that runs any economy. The needs of an average consumer are simple – a steady job to sustain him and in turn he sustains the economy. The repercussions in economies that have outsourced cheaper goods from offshore for more profits at the cost of local industry and JOBS are today evident.
Infact I feel that President Obama should had done the other way round splurged the billions on the American consumer instead of institutions and banks, these would had helped them repay their loans and revived the banks and similarly the money would had help to revive the commodity market and in turn created demand and the ball would had set rolling.
How to revive the economies?
If we have to revive the economy in all fronts entrepreneurial, industrial and financial it is necessary to return back to the ideals of Mahatma Gandhi and ‘SWADESHI’. SWADESHI – to manufacture ourselves from our own resources everything and anything that is possible for us. Instead of outsourcing from abroad which only creates employment opportunities elsewhere and helps other economies? Reopening closed units and setting up our own manufacturing facilities that will create more local employment opportunities increase the buying power of the consumer (put the money back into his pocket) who in turn will help to build a strong healthy economy and all of us can thrive and prosper collectively.
The above contents are edited version of my blog listed in the source below
Davos Open Forum 2010 – After the Financial Crisis: Consequences and Lessons Learned
http://www.weforum.org 28.01.2010
The financial crisis has caused an economic crisis around the world. Drastic state measures have prevented the collapse of the economic system: governments have established rescue funds for failing banks or nationalized banks for relaunching economic growth. At the same time, central banks have intervened with important injections of liquidity and have lowered interest rates.
What were the causes of the financial crisis?
In the future, how can such crises be prevented?
What effect will state measures have in the long term?
What will a global adjustment of the financial system look like? Who should develop and apply the rules?
This session is co-organized with the Federation of Swiss Protestant Churches (SEK-FEPS).
Ziya Akkurt, Chief Executive Officer and Board Member, Akbank TAS, Turkey
Christine Lagarde, Minister of Economy, Industry and Employment of France; Member of the Foundation Board of the World Economic Forum
Patrick Odier, Chairman, Swiss Bankers Association, Switzerland
Nikolaus Schneider, Vice-Chairperson of the Council, Evangelical Church in Germany, Germany
Juan Somavia, Director-General, International Labour Organization (ILO), Geneva; Global Agenda Council on Employment & Social Protection
Joseph E. Stiglitz, Professor, Columbia University, USA
Moderated by
Stephan Klapproth, Anchor, Ten O’Clock News, Swiss Television SF DRS, Switzerland
Duration : 1:30:46
CNBC – Dollar Will be Utterly Destroyed, Global Currency, New World Order
Friday, 6 Nov 2009 – The dollar will get “utterly destroyed” and become “virtually worthless”, said Damon Vickers, chief investment officer of Nine Points Capital Partners. Due to the huge wage disparities between the United States and emerging markets like China, Vickers said that may resolve itself in some type of a global currency crisis.
“If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that,” he said.
For those who have claimed this is a fake clip I suggest you visit CNBC’s website:
http://www.cnbc.com/id/33709379
http://www.infowars.com
Duration : 0:3:52
ECONOMIC COLLAPSE 2010 PETER SCHIFF !!! TOP PREDICTIONS DECADE OF SIN PAYING FOR OUR SINS !!!
The bride’s symbolic vision of the church, its explanation, which concerns the moderation and attitude that the pope ought to maintain regarding his own person and regarding the cardinals and other prelates of Holy Mother Church, and especially about the attitude of humility.
Book 4 – Chapter 49 SAINT BRIDGET PATRON SAINT OF EUROPE FINAL PART
Let him then organize his entourage with moderation and keep only those servants needed to protect him. Although it is in God’s hands to call him to judgment, still it is only right for him to have servants both in order to strengthen the cause of justice and so that he can humble those who rebel against God and against the holy customs of the church.
The hinge-pins attached to the doors represent the cardinals who have been bent outward and stretched as far as possible toward all pride, greed, and physical pleasure. This is why the pope should take a hammer and tongs in hand and bend the hinges to his will by not letting them have more clothes, servants, and equipment than necessity and utility require. Let him bend them with the tongs, that is, with his soothing words and divine counsel and fatherly love. Then, if they refuse to obey, he should take the hammer and display severity toward them, doing with them whatever lies in his power and does not go against justice, until they are bent to his will.
The floor represents the bishops and the secular clergy, whose greed is bottomless. From their pride and luxurious way of living come the fumes that make all the angels in heaven and all God’s friends on earth shun them.
The pope can improve the situation greatly by allowing them to have only what they need and nothing superfluous, and he should order each bishop to watch over the ways of his own clergy. Anyone who refuses to mend his ways and live continently should be stripped of his prebends, because God would rather not have a mass said in a given place than let a whorish hand touch the body of God.”
Duration : 0:7:5
$78.8 Trillion; United States Debt Obligations exceed world GDP; Monetary Collapse Looming?
How in the world are we going to pay off all of this debt? Raising taxes to do it would burden our economy, and then the situation would only get worse. To me the solution is obvious, cut spending.
For too long in this country we’ve had the give-me-stuff people standing there with their hand out, and the government putting something in it. Does the idea of small government ring a bell? It is what our founding Fathers had in mind when they gave us our constitution. That is why there is a list in the constitution that quite clearly spells out the powers of the federal government, and also what it is not allowed to do. So basically if it was not listed as a power, then they are to stay away from it, and allow the States to handle it.
Just take a look at federal laws. At the very beginning they will state their authority in enacting the law, and it is almost always the commerce clause. I’m sure they even think that just because your computer is hooked up to the internet, and therefore has contact with other computers in other States, that they then would have the constitutional right of regulating your computer, and thereby your internet communications; they are out of control.
jbranstetter04
Federal obligations exceed world GDP
Does $65.5 trillion terrify anyone yet?
As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.
The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.
The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the “2008 Financial Report of the United States Government” as released by the U.S. Department of Treasury.
The difference between the $455 billion “official” budget deficit numbers and the $5.1 trillion budget deficit cited by “2008 Financial Report of the United States Government” is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur.
But the numbers in the 2008 report are calculated on a GAAP basis (“Generally Accepted Accounting
Practices”) that include year-for-year changes in the net present value of unfunded liabilities in social insurance programs such as Social Security and Medicare.
Under cash accounting, the government makes no provision for future Social Security and Medicare benefits in the year in which those benefits accrue.
“As bad as 2008 was, the $455 billion budget deficit on a cash basis and the $5.1 trillion federal budget deficit on a GAAP accounting basis does not reflect any significant money [from] the financial bailout or Troubled Asset Relief Program, or TARP, which was approved after the close of the fiscal year,” economist John Williams, who publishes the Internet website Shadow Government Statistics, told WND.
“The Congressional Budget Office estimated the fiscal year 2009 budget deficit as being $1.2 trillion on a cash basis and that was before taking into consideration the full costs of the war in Iraq and Afghanistan, before the cost of the Obama nearly $800 billion economic stimulus plan, or the cost of the second $350 billion in TARP funds, as well as all current bailouts being contemplated by the U.S. Treasury and Federal Reserve,” he said.
“The federal government’s deficit is hemorrhaging at a pace which threatens the viability of the financial system,” Williams added. “The popularly reported 2009 [deficit] will clearly exceed $2 trillion on a cash basis and that full amount has to be funded by Treasury borrowing.
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851
Duration : 0:1:41