Shortly after the second anniversary of 7th July 2005, J7: The July 7th Truth Campaign was contacted by Chris Alcock of the BBC who advised us of plans for a BBC documentary covering the events of 7th July 2005. No detail about the nature of the 'documentary' was provided until five months later, in December 2007, when another BBC employee, Assistant Producer Susan Prichard, advised us by email that the BBC production in question, rather than being a serious documentary effort for which the BBC was once well known, was in fact an episode of BBC2's risible Conspiracy Files series.
For anyone that missed out on the 'privilege' of watching the first four episodes of the Conspiracy Files, previous programmes have covered the events of 11th September 2001, the death of weapons inspector Dr David Kelly, the murder of Dodi Fayed and the Oklahoma bombing.
Upon learning that our assistance was being requested in connection with the production of an episode of the formulaic Conspiracy Files rather than a serious, honest, open-minded and in-depth documentary that examined the official Home Office account of events -- the original 'conspiracy theory' about what happened -- the lack of evidence to support it, the errors exposed by J7's ongoing research and the numerous anomalies and inconsistencies in the story the government has endeavoured to fob the British public off with in place of a full and independent public inquiry outside of the Inquiries Act 2005, J7 issued a response to the BBC declining to participate in the programme and outlining our reasons for reaching this decision. What follows is a full copy of the J7 response to the BBC request to participate in its Conspiracy Files series. Much of what is written below is equally applicable to other broadcast and print media:
A full copy of the letter can be found here:
Julyseventh.co.uk
Thursday, 10 April 2008
Sunday, 6 April 2008
End of the world as we know it
This is very alarming indeed. Now is THE time to adopt new clean energies, such as Zero Point before it really is too late! We have now reached and past "peak oil", maybe that is why experts are predicting oil at $160 a barrel shortly.
Peak oil spells the end of civilization. And, if it's not already too late, perhaps it will prevent the extinction of our species.
M. King Hubbert, a petroleum geologist employed by Shell Oil Co., described peak oil in 1956. Production of crude oil, like the production of many non-renewable resources, follows a bell-shaped curve. The top of the curve is termed "peak oil," or "Hubbert's peak," and it represents the halfway point for production.
The bell-shaped curve applies at all levels, from field to country to planet. After discovery, production ramps up relatively quickly. But when the light, sweet crude on top of the field runs out, increased energy and expense are required to extract the underlying heavy, sour crude. At some point, the energy required to extract a barrel of oil exceeds the energy contained in barrel of oil, so the pumps shut down.
Most of the world's oil pumps are about to shut down.
We have sufficient supply to keep the world running for 30 years or so, at the current level of demand. But that's irrelevant because the days of inexpensive oil are behind us. And the American Empire absolutely demands cheap oil. Never mind the 3,000-mile Caesar salad to which we've become accustomed. Cheap oil forms the basis for the 12,000-mile supply chain underlying the "just-in-time" delivery of plastic toys from China.
There goes next year's iPod.
In 1956, Hubbert predicted the continental United States would peak in 1970. He was correct, and the 1970s gave us a small, temporary taste of the sociopolitical and economic consequences of expensive oil.
We passed the world oil peak in 2005, and we've been easing down the other side by acquiring oil at the point of a gun - actually, guns are the smallest of the many weapons we're using - paying more for oil and destroying one culture after another as the high price of crude oil forces supply disruptions and power outages in Third World countries.
The world peaked at 74.3 million barrels per day in May 2005. The two-year decline to 73.2 million barrels per day produced a doubling of the price of crude. Later this year, we fall off the oil-supply cliff, with global supply plummeting below 70 million barrels/day. Oil at merely $100 per barrel will seem like the good old days.
Within a decade, we'll be staring down the barrel of a crisis: Oil at $400 per barrel brings down the American Empire, the project of globalization and water coming through the taps. Never mind happy motoring through the never-ending suburbs in the Valley of the Sun. In a decade, unemployment will be approaching 100 percent, inflation will be running at 1,000 percent and central heating will be a pipe dream.
In short, this country will be well on its way to the post-industrial Stone Age.
After all, no alternative energy sources scale up to the level of a few million people, much less the 6.5 billion who currently occupy Earth. Oil is necessary to extract and deliver coal and natural gas. Oil is needed to produce solar panels and wind turbines, and to maintain the electrical grid.
Ninety percent of the oil consumed in this country is burned by airplanes, ships, trains and automobiles. You can kiss goodbye groceries at the local big-box grocery store: Our entire system of food production and delivery depends on cheap oil.
If you're alive in a decade, it will be because you've figured out how to forage locally.
The death and suffering will be unimaginable. We have come to depend on cheap oil for the delivery of food, water, shelter and medicine. Most of us are incapable of supplying these four key elements of personal survival, so trouble lies ahead when we are forced to develop means of acquiring them that don't involve a quick trip to Wal-Mart.
On the other hand, the forthcoming cessation of economic growth is truly good news for the world's species and cultures. In addition, the abrupt halt of fossil-fuel consumption may slow the warming of our planetary home, thereby preventing our extinction at our own hand.
Our individual survival, and our common future, depends on our ability to quickly make other arrangements. We can view this as a personal challenge, or we can take the Hemingway out. The choice is ours.
For individuals interested in making other arrangements, it's time to start acquiring myriad requisite skills. It is far too late to save civilization for 300 million Americans, much less the rest of the planet's citizens, but we can take joy in a purpose-filled, intimate life.
It's time to push away from the shore, to let the winds of change catch the sails of our leaky boat.
It's time to trust in ourselves, our neighbors and the Earth that sustains us all.
Painful though it might be, it's time to abandon the cruise ship of empire in exchange for a lifeboat.
Source: Azcentral.com
Crossingpointoflight.blogspot.com
Peak oil spells the end of civilization. And, if it's not already too late, perhaps it will prevent the extinction of our species.
M. King Hubbert, a petroleum geologist employed by Shell Oil Co., described peak oil in 1956. Production of crude oil, like the production of many non-renewable resources, follows a bell-shaped curve. The top of the curve is termed "peak oil," or "Hubbert's peak," and it represents the halfway point for production.
The bell-shaped curve applies at all levels, from field to country to planet. After discovery, production ramps up relatively quickly. But when the light, sweet crude on top of the field runs out, increased energy and expense are required to extract the underlying heavy, sour crude. At some point, the energy required to extract a barrel of oil exceeds the energy contained in barrel of oil, so the pumps shut down.
Most of the world's oil pumps are about to shut down.
We have sufficient supply to keep the world running for 30 years or so, at the current level of demand. But that's irrelevant because the days of inexpensive oil are behind us. And the American Empire absolutely demands cheap oil. Never mind the 3,000-mile Caesar salad to which we've become accustomed. Cheap oil forms the basis for the 12,000-mile supply chain underlying the "just-in-time" delivery of plastic toys from China.
There goes next year's iPod.
In 1956, Hubbert predicted the continental United States would peak in 1970. He was correct, and the 1970s gave us a small, temporary taste of the sociopolitical and economic consequences of expensive oil.
We passed the world oil peak in 2005, and we've been easing down the other side by acquiring oil at the point of a gun - actually, guns are the smallest of the many weapons we're using - paying more for oil and destroying one culture after another as the high price of crude oil forces supply disruptions and power outages in Third World countries.
The world peaked at 74.3 million barrels per day in May 2005. The two-year decline to 73.2 million barrels per day produced a doubling of the price of crude. Later this year, we fall off the oil-supply cliff, with global supply plummeting below 70 million barrels/day. Oil at merely $100 per barrel will seem like the good old days.
Within a decade, we'll be staring down the barrel of a crisis: Oil at $400 per barrel brings down the American Empire, the project of globalization and water coming through the taps. Never mind happy motoring through the never-ending suburbs in the Valley of the Sun. In a decade, unemployment will be approaching 100 percent, inflation will be running at 1,000 percent and central heating will be a pipe dream.
In short, this country will be well on its way to the post-industrial Stone Age.
After all, no alternative energy sources scale up to the level of a few million people, much less the 6.5 billion who currently occupy Earth. Oil is necessary to extract and deliver coal and natural gas. Oil is needed to produce solar panels and wind turbines, and to maintain the electrical grid.
Ninety percent of the oil consumed in this country is burned by airplanes, ships, trains and automobiles. You can kiss goodbye groceries at the local big-box grocery store: Our entire system of food production and delivery depends on cheap oil.
If you're alive in a decade, it will be because you've figured out how to forage locally.
The death and suffering will be unimaginable. We have come to depend on cheap oil for the delivery of food, water, shelter and medicine. Most of us are incapable of supplying these four key elements of personal survival, so trouble lies ahead when we are forced to develop means of acquiring them that don't involve a quick trip to Wal-Mart.
On the other hand, the forthcoming cessation of economic growth is truly good news for the world's species and cultures. In addition, the abrupt halt of fossil-fuel consumption may slow the warming of our planetary home, thereby preventing our extinction at our own hand.
Our individual survival, and our common future, depends on our ability to quickly make other arrangements. We can view this as a personal challenge, or we can take the Hemingway out. The choice is ours.
For individuals interested in making other arrangements, it's time to start acquiring myriad requisite skills. It is far too late to save civilization for 300 million Americans, much less the rest of the planet's citizens, but we can take joy in a purpose-filled, intimate life.
It's time to push away from the shore, to let the winds of change catch the sails of our leaky boat.
It's time to trust in ourselves, our neighbors and the Earth that sustains us all.
Painful though it might be, it's time to abandon the cruise ship of empire in exchange for a lifeboat.
Source: Azcentral.com
Crossingpointoflight.blogspot.com
Coming soon: superfast internet
THE internet could soon be made obsolete. The scientists who pioneered it have now built a lightning-fast replacement capable of downloading entire feature films within seconds.
At speeds about 10,000 times faster than a typical broadband connection, “the grid” will be able to send the entire Rolling Stones back catalogue from Britain to Japan in less than two seconds.
The latest spin-off from Cern, the particle physics centre that created the web, the grid could also provide the kind of power needed to transmit holographic images; allow instant online gaming with hundreds of thousands of players; and offer high-definition video telephony for the price of a local call.
David Britton, professor of physics at Glasgow University and a leading figure in the grid project, believes grid technologies could “revolutionise” society. “With this kind of computing power, future generations will have the ability to collaborate and communicate in ways older people like me cannot even imagine,” he said.
The power of the grid will become apparent this summer after what scientists at Cern have termed their “red button” day - the switching-on of the Large Hadron Collider (LHC), the new particle accelerator built to probe the origin of the universe. The grid will be activated at the same time to capture the data it generates.
Cern, based near Geneva, started the grid computing project seven years ago when researchers realised the LHC would generate annual data equivalent to 56m CDs - enough to make a stack 40 miles high.
This meant that scientists at Cern - where Sir Tim Berners-Lee invented the web in 1989 - would no longer be able to use his creation for fear of causing a global collapse.
This is because the internet has evolved by linking together a hotchpotch of cables and routing equipment, much of which was originally designed for telephone calls and therefore lacks the capacity for high-speed data transmission.
By contrast, the grid has been built with dedicated fibre optic cables and modern routing centres, meaning there are no outdated components to slow the deluge of data. The 55,000 servers already installed are expected to rise to 200,000 within the next two years.
Professor Tony Doyle, technical director of the grid project, said: “We need so much processing power, there would even be an issue about getting enough electricity to run the computers if they were all at Cern. The only answer was a new network powerful enough to send the data instantly to research centres in other countries.”
That network, in effect a parallel internet, is now built, using fibre optic cables that run from Cern to 11 centres in the United States, Canada, the Far East, Europe and around the world.
One terminates at the Rutherford Appleton laboratory at Harwell in Oxfordshire.
From each centre, further connections radiate out to a host of other research institutions using existing high-speed academic networks.
It means Britain alone has 8,000 servers on the grid system – so that any student or academic will theoretically be able to hook up to the grid rather than the internet from this autumn.
Ian Bird, project leader for Cern’s high-speed computing project, said grid technology could make the internet so fast that people would stop using desktop computers to store information and entrust it all to the internet.
“It will lead to what’s known as cloud computing, where people keep all their information online and access it from anywhere,” he said.
Computers on the grid can also transmit data at lightning speed. This will allow researchers facing heavy processing tasks to call on the assistance of thousands of other computers around the world. The aim is to eliminate the dreaded “frozen screen” experienced by internet users who ask their machine to handle too much information.
The real goal of the grid is, however, to work with the LHC in tracking down nature’s most elusive particle, the Higgs boson. Predicted in theory but never yet found, the Higgs is supposed to be what gives matter mass.
The LHC has been designed to hunt out this particle - but even at optimum performance it will generate only a few thousand of the particles a year. Analysing the mountain of data will be such a large task that it will keep even the grid’s huge capacity busy for years to come.
Although the grid itself is unlikely to be directly available to domestic internet users, many telecoms providers and businesses are already introducing its pioneering technologies. One of the most potent is so-called dynamic switching, which creates a dedicated channel for internet users trying to download large volumes of data such as films. In theory this would give a standard desktop computer the ability to download a movie in five seconds rather than the current three hours or so.
Additionally, the grid is being made available to dozens of other academic researchers including astronomers and molecular biologists.
It has already been used to help design new drugs against malaria, the mosquito-borne disease that kills 1m people worldwide each year. Researchers used the grid to analyse 140m compounds - a task that would have taken a standard internet-linked PC 420 years.
“Projects like the grid will bring huge changes in business and society as well as science,” Doyle said.
“Holographic video conferencing is not that far away. Online gaming could evolve to include many thousands of people, and social networking could become the main way we communicate.
“The history of the internet shows you cannot predict its real impacts but we know they will be huge.”
Source: Timesonline.co.uk
At speeds about 10,000 times faster than a typical broadband connection, “the grid” will be able to send the entire Rolling Stones back catalogue from Britain to Japan in less than two seconds.
The latest spin-off from Cern, the particle physics centre that created the web, the grid could also provide the kind of power needed to transmit holographic images; allow instant online gaming with hundreds of thousands of players; and offer high-definition video telephony for the price of a local call.
David Britton, professor of physics at Glasgow University and a leading figure in the grid project, believes grid technologies could “revolutionise” society. “With this kind of computing power, future generations will have the ability to collaborate and communicate in ways older people like me cannot even imagine,” he said.
The power of the grid will become apparent this summer after what scientists at Cern have termed their “red button” day - the switching-on of the Large Hadron Collider (LHC), the new particle accelerator built to probe the origin of the universe. The grid will be activated at the same time to capture the data it generates.
Cern, based near Geneva, started the grid computing project seven years ago when researchers realised the LHC would generate annual data equivalent to 56m CDs - enough to make a stack 40 miles high.
This meant that scientists at Cern - where Sir Tim Berners-Lee invented the web in 1989 - would no longer be able to use his creation for fear of causing a global collapse.
This is because the internet has evolved by linking together a hotchpotch of cables and routing equipment, much of which was originally designed for telephone calls and therefore lacks the capacity for high-speed data transmission.
By contrast, the grid has been built with dedicated fibre optic cables and modern routing centres, meaning there are no outdated components to slow the deluge of data. The 55,000 servers already installed are expected to rise to 200,000 within the next two years.
Professor Tony Doyle, technical director of the grid project, said: “We need so much processing power, there would even be an issue about getting enough electricity to run the computers if they were all at Cern. The only answer was a new network powerful enough to send the data instantly to research centres in other countries.”
That network, in effect a parallel internet, is now built, using fibre optic cables that run from Cern to 11 centres in the United States, Canada, the Far East, Europe and around the world.
One terminates at the Rutherford Appleton laboratory at Harwell in Oxfordshire.
From each centre, further connections radiate out to a host of other research institutions using existing high-speed academic networks.
It means Britain alone has 8,000 servers on the grid system – so that any student or academic will theoretically be able to hook up to the grid rather than the internet from this autumn.
Ian Bird, project leader for Cern’s high-speed computing project, said grid technology could make the internet so fast that people would stop using desktop computers to store information and entrust it all to the internet.
“It will lead to what’s known as cloud computing, where people keep all their information online and access it from anywhere,” he said.
Computers on the grid can also transmit data at lightning speed. This will allow researchers facing heavy processing tasks to call on the assistance of thousands of other computers around the world. The aim is to eliminate the dreaded “frozen screen” experienced by internet users who ask their machine to handle too much information.
The real goal of the grid is, however, to work with the LHC in tracking down nature’s most elusive particle, the Higgs boson. Predicted in theory but never yet found, the Higgs is supposed to be what gives matter mass.
The LHC has been designed to hunt out this particle - but even at optimum performance it will generate only a few thousand of the particles a year. Analysing the mountain of data will be such a large task that it will keep even the grid’s huge capacity busy for years to come.
Although the grid itself is unlikely to be directly available to domestic internet users, many telecoms providers and businesses are already introducing its pioneering technologies. One of the most potent is so-called dynamic switching, which creates a dedicated channel for internet users trying to download large volumes of data such as films. In theory this would give a standard desktop computer the ability to download a movie in five seconds rather than the current three hours or so.
Additionally, the grid is being made available to dozens of other academic researchers including astronomers and molecular biologists.
It has already been used to help design new drugs against malaria, the mosquito-borne disease that kills 1m people worldwide each year. Researchers used the grid to analyse 140m compounds - a task that would have taken a standard internet-linked PC 420 years.
“Projects like the grid will bring huge changes in business and society as well as science,” Doyle said.
“Holographic video conferencing is not that far away. Online gaming could evolve to include many thousands of people, and social networking could become the main way we communicate.
“The history of the internet shows you cannot predict its real impacts but we know they will be huge.”
Source: Timesonline.co.uk
Saturday, 5 April 2008
Experts Predict Imminent Oil Squeeze
The oil price could hit $160 a barrel as soon as next week, says ´Zapata’ George Blake, the Texan oil analyst quoted by the London-based online newsletter Money Morning.
‘Zapata’ George has a habit of making bold calls that often seem to be proved right. He thinks there’s an imminent supply squeeze ahead, which will cause the oil price to spike.
But, first, Money Morning dispels a couple of common myths about oil. Number one, there is a belief that demand for oil will go down in a recession.
In the last 58 years, according to Worldwatch estimates (based on sources such as BP and the International Energy Agency), year-on-year demand for oil has grown every year, except for two brief periods.
Between 1973 and 1975, amidst a global energy crisis, global demand decreased annually by a whopping 0.01 percent. And between 1979 and 1984 consumption growth levelled, the biggest annual decrease being in 79-80 - down a devastating 0.04 percent.
Thus, demand for oil will not fall by any significant amount, even if the US goes into recession.
Oil myth number two is that increased production will meet demand.
Money Morning reminds those who affirm that, where are the discoveries that will lead to new production?
The last major oil frontiers were discovered as long ago as the late 1960s – the North Sea, the North Slopes of Alaska and Western Siberia.
Since then, there has been some reduction in the number of discoveries, but, more significantly, a huge reduction in their size. In the 1960s over 500 fields were discovered; in the 1970s, over 700; in the 1980s, 856; the 1990s, 510.
But in this decade just 65 oil fields have been discovered.
Of the 65 largest oil producing countries in the world, up to 54 have passed their peak of production and are now in decline, including the USA in 1970/1, Indonesia in 1997, Australia in 2000, the North Sea in 2001, and Mexico in 2004.
‘Zapata’ George points out that the extreme cold spell in February in Alberta in Canada meant that the tar sands couldn’t be mined. One refinery in Edmonton had no oil to refine, while the larger Strathcona Refinery was running at significantly reduced rates due to ‘operational problems’.
He then mentions Australia, where there are currently gasoline shortages. BP and Shell have apologized, citing ‘constraints on imports’, leading to ‘unprecedented level of fuel shortages’. The four biggest oil refineries in Australia are not operational.
Meanwhile, Chinese oil demand went up by 6.5 percent in February, and their oil imports have risen by 18.1 percent. In brief, the Chinese are getting the oil, while Canada and Australia are going short.
Readers maybe interested in the 'peak oil' articles located in the side panel on the right, under the heading "March Special Report"
Source: Moneyweek.com
Oil price up $2 as economy slows
News.bbc.co.uk
‘Zapata’ George has a habit of making bold calls that often seem to be proved right. He thinks there’s an imminent supply squeeze ahead, which will cause the oil price to spike.
But, first, Money Morning dispels a couple of common myths about oil. Number one, there is a belief that demand for oil will go down in a recession.
In the last 58 years, according to Worldwatch estimates (based on sources such as BP and the International Energy Agency), year-on-year demand for oil has grown every year, except for two brief periods.
Between 1973 and 1975, amidst a global energy crisis, global demand decreased annually by a whopping 0.01 percent. And between 1979 and 1984 consumption growth levelled, the biggest annual decrease being in 79-80 - down a devastating 0.04 percent.
Thus, demand for oil will not fall by any significant amount, even if the US goes into recession.
Oil myth number two is that increased production will meet demand.
Money Morning reminds those who affirm that, where are the discoveries that will lead to new production?
The last major oil frontiers were discovered as long ago as the late 1960s – the North Sea, the North Slopes of Alaska and Western Siberia.
Since then, there has been some reduction in the number of discoveries, but, more significantly, a huge reduction in their size. In the 1960s over 500 fields were discovered; in the 1970s, over 700; in the 1980s, 856; the 1990s, 510.
But in this decade just 65 oil fields have been discovered.
Of the 65 largest oil producing countries in the world, up to 54 have passed their peak of production and are now in decline, including the USA in 1970/1, Indonesia in 1997, Australia in 2000, the North Sea in 2001, and Mexico in 2004.
‘Zapata’ George points out that the extreme cold spell in February in Alberta in Canada meant that the tar sands couldn’t be mined. One refinery in Edmonton had no oil to refine, while the larger Strathcona Refinery was running at significantly reduced rates due to ‘operational problems’.
He then mentions Australia, where there are currently gasoline shortages. BP and Shell have apologized, citing ‘constraints on imports’, leading to ‘unprecedented level of fuel shortages’. The four biggest oil refineries in Australia are not operational.
Meanwhile, Chinese oil demand went up by 6.5 percent in February, and their oil imports have risen by 18.1 percent. In brief, the Chinese are getting the oil, while Canada and Australia are going short.
Readers maybe interested in the 'peak oil' articles located in the side panel on the right, under the heading "March Special Report"
Source: Moneyweek.com
Oil price up $2 as economy slows
News.bbc.co.uk
Friday, 4 April 2008
Halliburton provided contaminated water to Soldiers
It is worth noting that Richard Cheney owns a large part of Haliburton via share options.
Regardless of your feelings about the wrong or right of this war. Please let this madness end soon and let us all work for lasting peace right across this planet.
Youtube.com
Regardless of your feelings about the wrong or right of this war. Please let this madness end soon and let us all work for lasting peace right across this planet.
Youtube.com
Wednesday, 2 April 2008
The Flagging Pound
The article about the Chinese shunning the flagging dollar is interesting, but are you aware that the pound is also suffering at the moment and not a word is being said about it except in financial circles.
A year ago I was getting around 1.47 euros to the pound. By September this had dropped to around 1.40 to the pound. Checking xe.com today I see that the price for euros is in the region of 1.26. This is a drop of around 20 cents in a year.
This situation is compounded by the dollar rate. There is much talk about the dollar falling against the Euro, but the pound to dollar ratio has not changed anywhere near as dramatically. What this means is that the pound has been falling roughly in line with the dollar.
Recently this has also changed. The pound is now falling against the dollar as well. Last year the pound peaked against the dollar at around 2.04. According to xe.com the rate is now about 1.97. As the dollar is clearly not gaining in value, this must mean that it is the pound that is falling – and falling significantly faster than the dollar.
All this raises a very simple question in my mind – What the hell is going on?
As for the article about gold and silver. If the gold is not at Fort Knox and it is not in the Bank of England, where the hell is it?
A final thought: why do people assume that gold and silver have any more intrinsic value than paper money?
Source: Thetruthseeker.co.uk
A year ago I was getting around 1.47 euros to the pound. By September this had dropped to around 1.40 to the pound. Checking xe.com today I see that the price for euros is in the region of 1.26. This is a drop of around 20 cents in a year.
This situation is compounded by the dollar rate. There is much talk about the dollar falling against the Euro, but the pound to dollar ratio has not changed anywhere near as dramatically. What this means is that the pound has been falling roughly in line with the dollar.
Recently this has also changed. The pound is now falling against the dollar as well. Last year the pound peaked against the dollar at around 2.04. According to xe.com the rate is now about 1.97. As the dollar is clearly not gaining in value, this must mean that it is the pound that is falling – and falling significantly faster than the dollar.
All this raises a very simple question in my mind – What the hell is going on?
As for the article about gold and silver. If the gold is not at Fort Knox and it is not in the Bank of England, where the hell is it?
A final thought: why do people assume that gold and silver have any more intrinsic value than paper money?
Source: Thetruthseeker.co.uk
Tuesday, 1 April 2008
Silver, Gold & the Last American Hero JFK
Like everything in our past, the late American president, John Fitzgerald Kennedy, exists as a memory. Struck down by an assassin in a decade where bullets - democracy’s deadly equalizer - quieted those brave enough to champion change, e.g. JFK, Martin Luther King and Robert Kennedy, President John Fitzgerald Kennedy was a true American hero; and heroes, while a champion to many are, by definition, a threat to some.
In How To Survive The Crisis And Prosper In The Process, I detailed how America’s problems after 1950 mirrored England’s descent from power one century before. America’s problems did not go unnoticed by those who then led the US, Presidents Dwight D. Eisenhower and his successor, John F. Kennedy. The reaction of each, however, is a chilling reminder of the dangers facing those who rule.
President Dwight D. Eisenhower was Supreme Commander of the Allied Forces that defeated the fascist powers in World War II; and, as a war hero, he was believed to be an ideal candidate for the Republican Party in the 1952 presidential elections.
Eisenhower was elected but while serving as president, Eisenhower clearly saw the forces that would someday be responsible for America’s loss of power; for it was during Eisenhower’s presidency that the erosion of America’s economic wealth began.
Prior to Eisenhower’s presidency in 1952, the US was the wealthiest nation in the world. As the largest industrial power, the US enjoyed a positive balance of trade with its partners. Before Eisenhower assumed office, the US had gold reserves totaling almost 22,000 tons, the most gold any nation had ever possessed.
When Eisenhower left office, however, it is uncertain how much gold remained; because after 1954, the US never allowed a public audit of its gold reserves. As the US then sold more goods abroad than it bought, US gold reserves should have increased. Instead, they declined. In one year alone, 1958, US gold reserves were reduced by 10%.
The powerful forces that controlled America were spending so much of America’s wealth on overseas military and corporate expansion that gold was flowing out faster than trade could bring it in. Indeed, the profligate spending responsible for America’s loss of gold and consequent debt began during Eisenhower’s presidency.
"I place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt".
President Thomas Jefferson 1743-1826
Only days before leaving office, in his Farewell Speech Eisenhower named those he believed responsible for the policies that would someday endanger America’s liberties and render this once wealthy nation financially insolvent.
"In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow".
Less than fifty years after Eisenhower uttered those prophetic words, America’s patrimony is gone and its future mortgaged beyond its ability to repay. His words were heard but not heeded - not then or since. It cannot be said that America wasn’t warned. It can and will be said that America didn’t listen.
Who Rules America
It is no coincidence that Eisenhower waited until three days before leaving office to warn America about the US military-industrial complex. A military man himself, Eisenhower felt it necessary to warn the country of the unwarranted influence and intrusion of military and industrial [sic business] interests that were then colluding to hijack the future liberties and prosperity of America.
Eisenhower’s warnings were not conclusions he had reached just before his presidency ended. They were conclusions Eisenhower had reached during his eight years as president, years spent observing how the business of government was conducted and who profited by its activities.
Eisenhower knew that even as President of the US, he did not possess the requisite power to openly oppose the powerful interests that were even then spending the US into insolvency. So President Eisenhower waited until the very end of his last term to warn America of the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex.
Eisenhower was right not to openly challenge the military-industrial complex. The man who succeeded Eisenhower as president, John F. Kennedy, did. But those who wield the real power behind the government’s facade of democratic fair and equal rule were not to be trifled with then. They are not to be trifled with now.
Real Rulers Real Polotik
The real rulers in Washington are invisible, and exercise power from behind the scenes.
US Supreme Court Justice Felix Frankfurter
US President Woodrow Wilson also spoke of the real rulers in Washington DC decades before Eisenhower and Kennedy were to encounter them. In his preface to The New Freedom: A Call For The Emancipation Of The Generous Energies Of A People, Wilson wrote:
Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.
These are not words of an imprudent man. They are the words of a US President who cared enough about his country to warn of the dangers lurking behind its illusory façade of law, liberty, justice and equality for all. Dangers of which Americans were unaware of then—and of which the vast majority are still unaware of now.
Executive Order 1110 and the Federal Reserve Bank
John F. Kennedy was not to live out his first term as President. Three years into his presidency, JFK was felled by an assassin’s bullet in Dallas, Texas. While there is much controversy surrounding his death, it is clear that whatever the theory, it was no accident.
The assassination of a standing president is not undertaken lightly. The public killing of a highly popular political figure such as JFK is decided upon and agreed to only when sufficient amounts of money or power are at stake.
Previous theories have revolved around issues of power. Dissident and/or dissatisfied rogue CIA agents and/or right-wing Washington DC power brokers and/or the mafia conspiring separately or together in a mutual hatred for the upstart Kennedy have been the favored theories. Another, simpler theory, however, should also be considered - money.
On June 4, 1963, Executive Order 1110 was signed by President Kennedy directing the US Treasury to issue a new US currency. This new US currency was to be backed by a precious metal - silver, unlike the credit-backed money issued by the Federal Reserve since 1913.
By the stroke of a pen, President Kennedy’s signing of Executive Order 1110 returned the power to issue currency back to the US Treasury thereby ending the fifty year monopoly of private bankers and the Federal Reserve Bank over US currency. Six months later, President John F. Kennedy was shot and killed.
In 1913, as a result of intense lobbying by business and banking interests, the US government had turned over the power to issue US currency to a group of private bankers - the Federal Reserve Bank. Many believe this transfer was unconstitutional. US presidential candidate and Congressman Ron Paul (ranking member of the House Subcommittee on Domestic Monetary Policy) has stated:
The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.
The power to coin money and regulate the value of the currency is among the most important responsibilities and functions of government. That the US government in 1913 turned over this public function to a group of private bankers is astounding.
As a consequence, almost one hundred later, the US and its citizens are now on the edge of bankruptcy, indebted up to their eyeballs to the very bankers they gave the power to coin their money and regulate their currency, private bankers who are even now being bailed out by America taxpayers with money made available to them by their fellow-bankers at the Federal Reserve. HELLO AMERICA, ARE YOU THERE? CAN YOU HEAR? ARE YOU EVEN LISTENING?
The Public Purse the Greatest Prize of Private Banking
For almost one hundred years in America, private bankers through the Federal Reserve Bank have had a monopoly on the printing and issuance of US currency. In that time they have inflated the US money supply to such a degree the US dollar has lost 95 % of its purchasing power and again brought the nation to the edge of economic ruin.
In 1963, fifty years after the Fed acquired the right to print, issue and inflate the money supply of the US, President John F. Kennedy quietly transferred that power back to the US Treasury, the only institution which the constitution had granted the power to coin and regulate currency. Rest assured that transference did not go unnoticed by the private bankers and the Fed.
US Presidential candidate Ron Paul has introduced legislation during each Congress to abolish the Fed (H.R. 2755 - 110th Congress, H.R. 2778 - 108th Congress, H.R. 5356 - 107th Congress, H.R. 1148 - 106th Congress). His inability to attract congressional support, however, is in all likelihood his Washington DC life insurance policy. Morto uomini non causano problemi, [sic it. Dead men don’t cause problems].
We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. These twelve private credit monopolies were deceitfully and disloyally foisted upon this country by the bankers who came here from Europe and repaid us for our hospitality by undermining our American institutions...The people have a valid claim against the Federal Reserve Board and the Federal Reserve banks.
Congressman Louis T. McFadden, Chairman of the House Committee on Banking and Currency from 1920–31
FED ASKS FOR OVERSIGHT OF ALL FINANCIAL MARKETS
oversight n 1: synonym, overlooking, as in government oversight
Plan would expand Fed's power to intervene in financial crisis March 29, 2008
WASHINGTON (CNN) - The Federal Reserve would have the power to regulate virtually the entire financial industry under a Treasury Department proposal to be announced Monday.
The proposal is part of a sweeping overhaul of the government's regulatory structure that Treasury Secretary Henry Paulson will propose in a speech Monday, said Treasury Department spokeswoman Michele Davis.
"I am not suggesting that more regulation is the answer, or even that more effective regulation can prevent the periods of financial market stress that seem to occur every five to 10 years," Paulson will say, according to a text of the speech obtained by The Associated Press.
According to Brookly McLaughlin, another department spokeswoman, Paulson will propose these changes:
· Give the Federal Reserve authority to look at the financial status of any institution that could affect market stability;
· Merge the Securities and Exchange Commission with the Commodity Futures Trading Commission;
· Give stock exchanges more room for self-regulation;
· Consolidate bank supervision into one regulator.
One of the most dramatic changes would extend the powers of the Federal Reserve -- designed to regulate the commercial banking industry -- to oversight of virtually the entire financial industry.
The fox is in the Henhouse
After the recent collapse of Bear Stearns, the Fed announced that US funds will now be made available to international investment banks. Previous to this announcement, any loaning of US funds to investment banks was prohibited.
On March 28th, the first day the funds were available, the Fed loaned the banks $75 billion dollars. These investment banks, called primary-dealers, are the inner circle of the Fed’s funding mechanism.
That these primary-dealers are in need of US support is an indication of the rapidly disintegrating state of their balance sheets - and the lengths the Fed will go to protect their fellow bankers in the private sector with public money.
PUBLIC PROBLEMS PRIVATE SOLUTIONS
It is the loss of our freedoms that has led us to understand them
It might be argued that the Federal Reserve is itself a private solution to a public problem. Indeed, such might be argued and in fact, it is true. The Federal Reserve Act is the most important act of privatization that happened in the US. It is also the worst.
This does not mean all private acts should be subsumed to public policy. Indeed, the opposite is true. Today, individual action is needed more than ever. Only by such action can the future be saved but it can be saved only after the present American economy collapses, a collapse set in motion by the military-industrial complex and private bankers, a collapse that can no longer be avoided.
WE HAVE GONE TOO FAR WE ARE TOO FAR GONE
The US military-industrial complex is still too powerful to confront and/or stop. With the bankers, they are responsible for America’s increasingly insolvable problems, their self-interests blinding them to what they have done to the nation.
Eisenhower couldn’t stop them, neither could Kennedy nor can Ron Paul. Only they can stop themselves and this they will soon do; albeit inadvertently as the foundation of their power, the US economy, succumbs to the damage they have inflicted upon it.
THE ARK OF GOLD & SILVER
If we invest in gold and silver - the anathema of private bankers, we can survive the crisis they caused. The economic carnage set in motion by government’s pact with private bankers will affect everyone - workers, savers, entrepreneurs, investors, pensioners, the helpless, as well the innocent and the guilty. Yes, bankers, too, will lose at least some of their wealth, if not all.
Everyone everywhere will be affected by the collapse of credit-based central banking. The economic landscape is already shifting as global credit markets implode. Bankers - the parasites of commerce and productivity - are now victims of their own excessive greed. Their demise will affect us all.
The torrent of collapsing debt accumulated and compounded since the beginning of central banking is about to be unleashed on an unsuspecting world. All beginnings have endings. So, too, does debt-based central banking.
THE FEDERAL RESERVE’S WAR ON GOLD
The Fed’s war on gold is not without reason - their reason, not ours. Ever since those in control of the US overspent America’s gold in the pursuit of military power and corporate expansion, the US paper dollar has been just that, a paper dollar exposed and vulnerable to the more obvious value of gold to which it was once convertible.
This is the reason the Fed and central banks have fought the rise of the price of gold since the US reneged on its gold obligations in the 1970s. The rising price of gold belies the Achilles heel of central banking, built on a foundation of debt-based paper money worth no more than the debts issued to produce it, debts that are no longer capable of being repaid.
The Swiss central bank sold 22 tons of its gold last fall as the price of gold raced towards the $1,000 per ounce mark. Without the intervention of the Swiss central bank, the price of gold would have passed $1,000 last year as easily as a Ferrari passes an elephant or an ass.
Buy as much gold as you can as long as central banks are selling it. It is our gold, after all, that they are selling. For when the flight from paper assets begins in earnest, there will be no gold for sale, at any price; and silver will do very well, as well.
BELIEF, HOPE, & REALITY
Elie Wiesel tells the story about the Jews who entered the boxcars going to the Nazi death camps told by their rabbis that God would never allow his chosen people to be destroyed.
Today, our governments and leaders are reassuring us that our pensions and investments are safe, that they have the tools and resources needed to protect us from the economic chaos threatening our financial futures, that there is no reason to panic.
Source: Kitco.com
In How To Survive The Crisis And Prosper In The Process, I detailed how America’s problems after 1950 mirrored England’s descent from power one century before. America’s problems did not go unnoticed by those who then led the US, Presidents Dwight D. Eisenhower and his successor, John F. Kennedy. The reaction of each, however, is a chilling reminder of the dangers facing those who rule.
President Dwight D. Eisenhower was Supreme Commander of the Allied Forces that defeated the fascist powers in World War II; and, as a war hero, he was believed to be an ideal candidate for the Republican Party in the 1952 presidential elections.
Eisenhower was elected but while serving as president, Eisenhower clearly saw the forces that would someday be responsible for America’s loss of power; for it was during Eisenhower’s presidency that the erosion of America’s economic wealth began.
Prior to Eisenhower’s presidency in 1952, the US was the wealthiest nation in the world. As the largest industrial power, the US enjoyed a positive balance of trade with its partners. Before Eisenhower assumed office, the US had gold reserves totaling almost 22,000 tons, the most gold any nation had ever possessed.
When Eisenhower left office, however, it is uncertain how much gold remained; because after 1954, the US never allowed a public audit of its gold reserves. As the US then sold more goods abroad than it bought, US gold reserves should have increased. Instead, they declined. In one year alone, 1958, US gold reserves were reduced by 10%.
The powerful forces that controlled America were spending so much of America’s wealth on overseas military and corporate expansion that gold was flowing out faster than trade could bring it in. Indeed, the profligate spending responsible for America’s loss of gold and consequent debt began during Eisenhower’s presidency.
"I place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt".
President Thomas Jefferson 1743-1826
Only days before leaving office, in his Farewell Speech Eisenhower named those he believed responsible for the policies that would someday endanger America’s liberties and render this once wealthy nation financially insolvent.
"In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow".
Less than fifty years after Eisenhower uttered those prophetic words, America’s patrimony is gone and its future mortgaged beyond its ability to repay. His words were heard but not heeded - not then or since. It cannot be said that America wasn’t warned. It can and will be said that America didn’t listen.
Who Rules America
It is no coincidence that Eisenhower waited until three days before leaving office to warn America about the US military-industrial complex. A military man himself, Eisenhower felt it necessary to warn the country of the unwarranted influence and intrusion of military and industrial [sic business] interests that were then colluding to hijack the future liberties and prosperity of America.
Eisenhower’s warnings were not conclusions he had reached just before his presidency ended. They were conclusions Eisenhower had reached during his eight years as president, years spent observing how the business of government was conducted and who profited by its activities.
Eisenhower knew that even as President of the US, he did not possess the requisite power to openly oppose the powerful interests that were even then spending the US into insolvency. So President Eisenhower waited until the very end of his last term to warn America of the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex.
Eisenhower was right not to openly challenge the military-industrial complex. The man who succeeded Eisenhower as president, John F. Kennedy, did. But those who wield the real power behind the government’s facade of democratic fair and equal rule were not to be trifled with then. They are not to be trifled with now.
Real Rulers Real Polotik
The real rulers in Washington are invisible, and exercise power from behind the scenes.
US Supreme Court Justice Felix Frankfurter
US President Woodrow Wilson also spoke of the real rulers in Washington DC decades before Eisenhower and Kennedy were to encounter them. In his preface to The New Freedom: A Call For The Emancipation Of The Generous Energies Of A People, Wilson wrote:
Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.
These are not words of an imprudent man. They are the words of a US President who cared enough about his country to warn of the dangers lurking behind its illusory façade of law, liberty, justice and equality for all. Dangers of which Americans were unaware of then—and of which the vast majority are still unaware of now.
Executive Order 1110 and the Federal Reserve Bank
John F. Kennedy was not to live out his first term as President. Three years into his presidency, JFK was felled by an assassin’s bullet in Dallas, Texas. While there is much controversy surrounding his death, it is clear that whatever the theory, it was no accident.
The assassination of a standing president is not undertaken lightly. The public killing of a highly popular political figure such as JFK is decided upon and agreed to only when sufficient amounts of money or power are at stake.
Previous theories have revolved around issues of power. Dissident and/or dissatisfied rogue CIA agents and/or right-wing Washington DC power brokers and/or the mafia conspiring separately or together in a mutual hatred for the upstart Kennedy have been the favored theories. Another, simpler theory, however, should also be considered - money.
On June 4, 1963, Executive Order 1110 was signed by President Kennedy directing the US Treasury to issue a new US currency. This new US currency was to be backed by a precious metal - silver, unlike the credit-backed money issued by the Federal Reserve since 1913.
By the stroke of a pen, President Kennedy’s signing of Executive Order 1110 returned the power to issue currency back to the US Treasury thereby ending the fifty year monopoly of private bankers and the Federal Reserve Bank over US currency. Six months later, President John F. Kennedy was shot and killed.
In 1913, as a result of intense lobbying by business and banking interests, the US government had turned over the power to issue US currency to a group of private bankers - the Federal Reserve Bank. Many believe this transfer was unconstitutional. US presidential candidate and Congressman Ron Paul (ranking member of the House Subcommittee on Domestic Monetary Policy) has stated:
The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.
The power to coin money and regulate the value of the currency is among the most important responsibilities and functions of government. That the US government in 1913 turned over this public function to a group of private bankers is astounding.
As a consequence, almost one hundred later, the US and its citizens are now on the edge of bankruptcy, indebted up to their eyeballs to the very bankers they gave the power to coin their money and regulate their currency, private bankers who are even now being bailed out by America taxpayers with money made available to them by their fellow-bankers at the Federal Reserve. HELLO AMERICA, ARE YOU THERE? CAN YOU HEAR? ARE YOU EVEN LISTENING?
The Public Purse the Greatest Prize of Private Banking
For almost one hundred years in America, private bankers through the Federal Reserve Bank have had a monopoly on the printing and issuance of US currency. In that time they have inflated the US money supply to such a degree the US dollar has lost 95 % of its purchasing power and again brought the nation to the edge of economic ruin.
In 1963, fifty years after the Fed acquired the right to print, issue and inflate the money supply of the US, President John F. Kennedy quietly transferred that power back to the US Treasury, the only institution which the constitution had granted the power to coin and regulate currency. Rest assured that transference did not go unnoticed by the private bankers and the Fed.
US Presidential candidate Ron Paul has introduced legislation during each Congress to abolish the Fed (H.R. 2755 - 110th Congress, H.R. 2778 - 108th Congress, H.R. 5356 - 107th Congress, H.R. 1148 - 106th Congress). His inability to attract congressional support, however, is in all likelihood his Washington DC life insurance policy. Morto uomini non causano problemi, [sic it. Dead men don’t cause problems].
We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. These twelve private credit monopolies were deceitfully and disloyally foisted upon this country by the bankers who came here from Europe and repaid us for our hospitality by undermining our American institutions...The people have a valid claim against the Federal Reserve Board and the Federal Reserve banks.
Congressman Louis T. McFadden, Chairman of the House Committee on Banking and Currency from 1920–31
FED ASKS FOR OVERSIGHT OF ALL FINANCIAL MARKETS
oversight n 1: synonym, overlooking, as in government oversight
Plan would expand Fed's power to intervene in financial crisis March 29, 2008
WASHINGTON (CNN) - The Federal Reserve would have the power to regulate virtually the entire financial industry under a Treasury Department proposal to be announced Monday.
The proposal is part of a sweeping overhaul of the government's regulatory structure that Treasury Secretary Henry Paulson will propose in a speech Monday, said Treasury Department spokeswoman Michele Davis.
"I am not suggesting that more regulation is the answer, or even that more effective regulation can prevent the periods of financial market stress that seem to occur every five to 10 years," Paulson will say, according to a text of the speech obtained by The Associated Press.
According to Brookly McLaughlin, another department spokeswoman, Paulson will propose these changes:
· Give the Federal Reserve authority to look at the financial status of any institution that could affect market stability;
· Merge the Securities and Exchange Commission with the Commodity Futures Trading Commission;
· Give stock exchanges more room for self-regulation;
· Consolidate bank supervision into one regulator.
One of the most dramatic changes would extend the powers of the Federal Reserve -- designed to regulate the commercial banking industry -- to oversight of virtually the entire financial industry.
The fox is in the Henhouse
After the recent collapse of Bear Stearns, the Fed announced that US funds will now be made available to international investment banks. Previous to this announcement, any loaning of US funds to investment banks was prohibited.
On March 28th, the first day the funds were available, the Fed loaned the banks $75 billion dollars. These investment banks, called primary-dealers, are the inner circle of the Fed’s funding mechanism.
That these primary-dealers are in need of US support is an indication of the rapidly disintegrating state of their balance sheets - and the lengths the Fed will go to protect their fellow bankers in the private sector with public money.
PUBLIC PROBLEMS PRIVATE SOLUTIONS
It is the loss of our freedoms that has led us to understand them
It might be argued that the Federal Reserve is itself a private solution to a public problem. Indeed, such might be argued and in fact, it is true. The Federal Reserve Act is the most important act of privatization that happened in the US. It is also the worst.
This does not mean all private acts should be subsumed to public policy. Indeed, the opposite is true. Today, individual action is needed more than ever. Only by such action can the future be saved but it can be saved only after the present American economy collapses, a collapse set in motion by the military-industrial complex and private bankers, a collapse that can no longer be avoided.
WE HAVE GONE TOO FAR WE ARE TOO FAR GONE
The US military-industrial complex is still too powerful to confront and/or stop. With the bankers, they are responsible for America’s increasingly insolvable problems, their self-interests blinding them to what they have done to the nation.
Eisenhower couldn’t stop them, neither could Kennedy nor can Ron Paul. Only they can stop themselves and this they will soon do; albeit inadvertently as the foundation of their power, the US economy, succumbs to the damage they have inflicted upon it.
THE ARK OF GOLD & SILVER
If we invest in gold and silver - the anathema of private bankers, we can survive the crisis they caused. The economic carnage set in motion by government’s pact with private bankers will affect everyone - workers, savers, entrepreneurs, investors, pensioners, the helpless, as well the innocent and the guilty. Yes, bankers, too, will lose at least some of their wealth, if not all.
Everyone everywhere will be affected by the collapse of credit-based central banking. The economic landscape is already shifting as global credit markets implode. Bankers - the parasites of commerce and productivity - are now victims of their own excessive greed. Their demise will affect us all.
The torrent of collapsing debt accumulated and compounded since the beginning of central banking is about to be unleashed on an unsuspecting world. All beginnings have endings. So, too, does debt-based central banking.
THE FEDERAL RESERVE’S WAR ON GOLD
The Fed’s war on gold is not without reason - their reason, not ours. Ever since those in control of the US overspent America’s gold in the pursuit of military power and corporate expansion, the US paper dollar has been just that, a paper dollar exposed and vulnerable to the more obvious value of gold to which it was once convertible.
This is the reason the Fed and central banks have fought the rise of the price of gold since the US reneged on its gold obligations in the 1970s. The rising price of gold belies the Achilles heel of central banking, built on a foundation of debt-based paper money worth no more than the debts issued to produce it, debts that are no longer capable of being repaid.
The Swiss central bank sold 22 tons of its gold last fall as the price of gold raced towards the $1,000 per ounce mark. Without the intervention of the Swiss central bank, the price of gold would have passed $1,000 last year as easily as a Ferrari passes an elephant or an ass.
Buy as much gold as you can as long as central banks are selling it. It is our gold, after all, that they are selling. For when the flight from paper assets begins in earnest, there will be no gold for sale, at any price; and silver will do very well, as well.
BELIEF, HOPE, & REALITY
Elie Wiesel tells the story about the Jews who entered the boxcars going to the Nazi death camps told by their rabbis that God would never allow his chosen people to be destroyed.
Today, our governments and leaders are reassuring us that our pensions and investments are safe, that they have the tools and resources needed to protect us from the economic chaos threatening our financial futures, that there is no reason to panic.
Source: Kitco.com
Subscribe to:
Posts (Atom)
