The United States Is A Fraudulent House Of Cards
Americans are an amazingly insouciant people. By now any other people would have burnt Wall Street to the ground. – Dr. Paul Craig Roberts, article link below
Anyone with a pulse knows by now that the U.S. Government, in conjunction with the Fed and Wall Street, rigs every economic report just like it rigs every market. When I first started getting involved in the precious metals markets back in 2001, the market manipulators at least tried to camouflage their activity. Now they openly lie about everything and blatantly intervene in every market. They no longer attempt to hide their activities. The fraud, corruption and open theft truly is the mark of a collapsing Empire.
Dr. Paul Craig Roberts just published a piece which describes the giant Ponzi scheme affectionately referred to as America:
Capitalism has been transformed by powerful private interests whose control over governments, courts, and regulatory agencies has turned capitalism into a looting mechanism. Wall Street no longer performs any positive function. Wall Street is a looting mechanism, a dead-weight loss to society. Wall Street makes profits by front-running trades with fast computers, by selling fraudulent financial instruments that it is betting against as investment grade securities, by leveraging equity to unprecedented heights, making bets that cannot be covered, and by rigging all commodity markets.
I would encourage everyone to read Dr. Roberts' commentary: The US Economy Is A House Of Cards
My only disagreement with him is that it's not just the economy, it's the whole damn system.
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10 thoughts on "The United States Is A Fraudulent House Of Cards"
My only disagreement with him is that he consistently confuses Fascism with Capitalism and he is advocating for even more regulation.
Not sure I agree with that assessment. He's a free-market advocate. The problem is that we have criminals running the asylum and not only does the Govt NOT enforce the laws that are the books, but the people who are supposed to elected to enforce the rules are controlled by the criminals. I think that's his message. There hasnt' been real capitalism in this country in LONG time.
I think PCR is a class act and I really enjoy his articles and interviews but he has stated numerous times that Capitalism has failed and that it was because the Glass-Steagel Act was repealed that the financial crisis hit. It is partially because of that, but his answer is always more regulation. That is not pro-free markets in my opinion. We've had criminals running the asylum since the creation of the Federal Reserve. As long as there is gov't we can never have free market Capitalism. I just think he's a bit confused about the meanings of the different -isms. That's all.
Phil Hackett says:
There are many countries that are no longer using the U.S. dollar as a means to trade internationally. Countries such as China, Russia, India and surprisingly Germany, France and the United Kingdom are all preparing for transition to a new central banking system.
"As things stand, the banks are the permanent government of the country, whichever party is in power."
– Lord Skidelsky, House of Lords, UK Parliament, 31 March 2011)
Ellen H. Brown (WoD) : On March 20, 2014, European Union officials reached an historic agreement
to create a single agency to handle failing banks. Media attention has
focused on the agreement involving the single resolution mechanism
(SRM), a uniform system for closing failed banks. But the real story for
taxpayers and depositors is the heightened threat to their pocketbooks
of a deal that now authorizes both bailouts and "bail-ins" – the confiscation of depositor funds. The deal involves multiple concessions to different countries and may be illegal
under the rules of the EU Parliament; but it is being rushed through to
lock taxpayer and depositor liability into place before the dire state
of Eurozone banks is exposed.
The bail-in provisions were agreed to last summer. According to Bruno Waterfield, writing in the UK Telegraph in June 2013:
http://nsnbc.me/2014/03/29/banking-union-time-bomb-eurocrats-authorize-bailouts-and-bail-ins/
Good comment. Most people here are completely unaware that the big EU countries have signed currency swap trade facilities with China. Britain and France rather large ones. I know Germany has but I don't recall the size. Frankfurt was designated at the yuan trading hub of Europe.
There's only 1 way for silver to go ! says:
It is amazing with all the rhetoric that we are bombarded with, we can continue to make sense of what's true value and what's not .
This you can be sure of ; the gold and silver trees are being feverishly shaken always by many of the liars who want you to believe that physical gold and silver have no value and to let go of it. DON'T follow their devious advice.
The bs volume will only grow louder as we get closer to closure.
Hang on tight to what you hold and try to keep stacking , you won't be sorry !
since it'll be worldwide simultaneous this time, unlike no other ever, key point here–there likely won't be any bank or institution standing, of any size, to enforce any contracts or trades, including derivatives.
http://goldonomic.com/education-hall/category/hyperinflation-scenario
In the worst case scenario, this will result in the creation of a Global Government; in the best case scenario, the process will take place separately in each country. For example, at the end of the Tulip Mania of the 17th century, all futures transactions with which tulips were bought and sold for millions of florins were declared void. Similarly, all electronic assets, contracts, securities, and futures contracts will be declared void, because the world doesn't have a court or executive power which is capable of enforcing bankruptcies and debt collection resulting from millions of non-performing contracts.
It is hard to say if we will get a one world government, considering China, Russia, Cuba, Venezuela and Iran would fight tooth and nail (and as a last resort, Nukes) before joining a one world government where the US was the country in charge and the one making the rules. If it were all of the countries mentioned above that were the ones making the rules, that would be another story, though the US, Israel, Saudi Arabia, and Iraq would fight tooth and nail against it. There is pure hatred between the Sunni and Shea Muslims, has been for centuries. don't expect those two branches of the same faith to reconcile any time soon.
Michael Jackson says:
In 20 percent of American families in 2013, according to new data released by the Bureau of Labor Statistics (BLS), not one member of the family worked.
http://cnsnews.com/news/article/ali-meyer/bls-20-american-families-no-one-works
U.S. Economy Slows to a Crawl in First Quarter of 2014
Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a seasonally adjusted annual rate of 0.1% in the first quarter, the Commerce Department said Wednesday. That matched the second-weakest quarterly reading of the nearly five-year-old economic recovery. Economists surveyed by The Wall Street Journal had forecast growth at a 1.1% pace for the quarter. "Not a great start to the year," said Lindsey Piegza, chief economist at Sterne Agee.
The broad slowdown halted what had been improving economic momentum during much of 2013. The economy expanded at a 3.4% pace in the second half of last year. The first-quarter reading fell far below even the lackluster average annual gain of near 2% since the recession ended. The primary driver of the weaker-than-expected growth figure: Exports fell at the fastest rate since the recession ended, declining at a 7.6% pace in the first quarter.
(and they still try to blame the weather but demands for exports dropped and that wasn't due to any storms except economical).
http://online.wsj.com/news/articles/SB10001424052702304178104579533412969885426?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304178104579533412969885426.html
EU bank stress tests include jump in US yields
A sharp rise in U.S. Treasury yields could send tremors to every corner of the globe, according to one of the European Union's scenarios for its forthcoming stress tests for the region's banks.
http://www.cnbc.com/id/101622640
These hallowed halls of American commerce crumbled into veritable ghost towns.
Dilapidated store fronts. Shattered glass. Motionless escalators. Shriveled plants.
It's not every day you see once bustling shopping centers abandoned to decay in silence and squalor.
A Cleveland photographer, who goes by the pseudonym Seph Lawless, broke into these forgotten relics of the Rust Belt with his camera in tow.
http://www.nydailynews.com/news/national/creepy-photos-abandoned-shopping-malls-highlight-reveal-hard-times-article-1.1773948
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