America In Danger – The Blog

This is the same old rhetoric that we hear every time the Fed prints too much money. The loose monetary policies that have existed for some time have already laid the ground work for rampant price inflation. This has everything to do with a private bank given the authority to create money out of thin air. Doing so is the actual inflation. The price inflation of which they speak is simply the market response to dollars that have had their value reduced by the printing of more unbacked dollars.

Throw in the move on the global level to reject U.S. greenbacks as the standard reserve currency and you have the makings of a major monetary meltdown here in the United States.

This boom and bust cycle that is continually repeated is the very thing the Fed was supposedly set up to prevent. As we all know, the creation of the Fed had nothing to do with stabilizing the economy and every to do with power and control by the international banking elite. G. Edward Griffin’s book The Creature From Jykell Island is an excellent and well researched historical recount of the establishment of the Fed and the true purposes.

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I would sincerely like to be optimistic and believe Mr. Bernake’s rhetoric about the recession being over but, when you look at what the experts are saying, it becomes very difficult to accept the Fed Chair’s rosy outlook.

The experts I’m referring to are the ones who saw the problem coming in the first place, not the Cramer-like individuals who are already calling a victory over recession and trying to convince us that bailing out banks, buying old cars, and pumping money we don’t have into the mortgage markets has won the day.

No, the experts I’m talking about are the ones who understand what caused the issue in the first place. While it’s typical to hear about how under-regulation lead to this crash, those who truly understand the problem tell a very different story that’s worth listening to.

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The plan would give the government new powers to seize key companies whose failure jeopardizes the financial system, as well as creation of a watchdog agency to look out for consumers’ interests.

Again, the “foxes” want to guard the hen house.  They’ll be given “new powers”, as if they already haven’t caused enough damage. And they’re not even a “federal” agency.

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So, for 2007 and 2008 combined, the U.S. exported 22 million ounces of refined gold and over 154 million ounces of “compound gold.” This is more than 11 times U.S. gold mine production during those two years. In fact, this is higher than global gold mine output. Where did all this gold come from?

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Author of The Creature from Jekyll Island – A Second Look at the Federal Reserve provided a great interview for Jan Irvin.

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For years, many of us puzzled about how something so stupid and destructive as the New Deal could have happened. The stock market crashed because it was overinflated. That’s nothing new. History is filled with credit bubbles that pop. Resources are reallocated to reflect economic reality and we move on.

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There’s not much I like more than a good info graphic. With words like “billions” & “trillions” crowding the headlines lately, this one puts thing in perspective.

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The U.S. Federal Reserve, in another massive life-support intervention for the U.S. financial system, on Tuesday announced a $600 billion program to buy mortgage-related debt and securities and a $200 billion facility to buy consumer debt securities

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At least 29 states plus the District of Columbia, including several of the nation
’s largest states, faced an estimated $48 billion in combined shortfalls in their budgets for fiscal year 2009 (which began July 1, 2008 in most states.) At least three other states expect budget problems in fiscal year 2010.

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Requests for federal emergency funding are piling up, with the latest requests coming from cash-strapped cities seeking help to shore up budgets strained by sinking revenue, pension-plan losses and difficulty getting financing amid the credit crisis.

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