Thursday, May 21, 2009
Written by an unknown Pastor's Wife, and brilliantly said:
And it came to pass in the Age of Insanity that the people of the land called America , having lost their morals, their work initiative, and their will to defend their liberties, chose as their Supreme Leader that person known as "The One".
He emerged from the vapors with a message that had no meaning; but He hypnotized the people telling them, "I am sent to save you.
My lack of experience, my questionable ethics, my monstrous ego, and my association with evil doers are of no consequence.
For I shall save you with Hope and Change. Go, therefore, and proclaim throughout the land that he who preceded me is evil, that he has defiled the nation, and that all he has built must be destroyed."
And the people rejoiced, for even though they knew not what "The One" would do, he had promised that he would bring change, and they proclaimed "Yes We Can".
And "The One" said "We live in the greatest country in the world. Help me change everything about it!"
And the people said, "Hallelujah!! Change is good!"
Then He said, "We are going to tax the rich fat-cats,"---- And the people said "Sock it to them!" "---- and "Redistribute their wealth."
And then He said, "Redistribution of wealth is good for everybody"
And the people said, "Show us the money!"
And Joe the plumber asked, "Are you kidding me? You're going to steal my money and give it to the deadbeats??"
And "The One" ridiculed and taunted him, and Joe's personal records were hacked, publicized, and ridiculed; though no crime could be found.
One lone reporter asked, "That shouldn't be, isn't that Marxist policy?"
And she was banished from the kingdom!
Then a citizen asked, "With no foreign relations experience and having zero military experience or knowledge, how will you deal with radical terrorists?"
And "The One" said, "Simple. I shall sit with them and talk kindly to them and show them how nice we really are; and they will forget that they ever wanted to kill us all when I abolish the word "terrorism"!"
And the people said, "Hallelujah!! We are safe at last, and we can beat our weapons into free cars for the people!"
Then "The One" said, "I shall give 95% of you lower taxes."
And one, lone voice said, "But 40% of us don't pay ANY taxes."
So "The One" said, "Then I shall give you some of the taxes the fat-cats
And the people said, "Hallelujah!! Show us the money!"
Then "The One" said, "I shall tax your Capital Gains when you sell your homes!"
And the people yawned and the already slumping housing market fully collapsed.
And He said, "I shall mandate employer-funded health care for EVERY worker and raise the minimum wage, and lower the white collar wage.
And I shall also give every person unlimited healthcare and medicine and even transportation to the free clinics."
And the people said, "Give me some of that!"
Then he said, "I shall penalize employers who ship jobs overseas."
And the people said, "Where's my rebate check?"
Then "The One" said, "I shall bankrupt the coal industry, and perhaps even the oil industry (Cap & Trade/Carbon Tax) and though
electricity rates will skyrocket, we shall soon build wind farms and solar power stations and drive green cars that I shall mandate in Detroit!"
And the people said, "Coal is dirty, coal is evil, no more coal! But we
don't care for that part about higher electric rates."
So "The One" said, "Not to worry. If your rebate ($10/week) isn't enough to cover your extra expenses ($3,000/year), we shall bail you out. Just sign up with ACORN and your troubles are over!" "Only the fat cats will have to pay."
Then He said, "Illegal immigrants feel scorned and slighted. Let's grant them amnesty, Social Security, free education, free lunches, free medical care, bi-lingual signs and guaranteed housing..."
And the people said, "Hallelujah!!" And they made him King!
And so it came to pass that employers, facing spiraling costs and
ever-higher taxes, raised their prices and laid off workers; though they sold much less of their products.
Others simply gave up and went out of business, and the economy sank like unto a rock dropped from a cliff. The banking industry was destroyed. Manufacturing slowed to a crawl. And more of the people were without a means of support.
So "The One" again blamed the prior administration, extended unemployment benefits to a year, bailed out his favorite banks, and then took over the banks and auto industries.
"The One" said, "I am the "The One" - The Messiah - and I'm here to save you! We shall just print more money so the government will have enough!" "Surely one trillion dollars will make everyone happy." And immediately the Fed complied and the money presses
And China reconsidered their one trillion dollars of loans to the US , and threatened to call in their debts. Other foreign trading
partners said unto "The One", "Wait a minute. Your dollar is not worth a pile of camel dung! You will have to pay more.. for everything... as your dollar becomes worth less."
And the people said, "Wait a minute... That is unfair!!"
And the world said, "Neither are these other idiotic programs you have embraced. Lo, you have become a Socialist state and a
second-rate power. What factories are not owned by your government are owned by us. Now you shall play by our rules!"
And "The One" said "Americans are arrogant, divisive, and derisive!" "We will listen."
And the people cried out, "Alas, alas!! What have we done?"
But yea verily, it was too late. The people eventually set upon "The One" and spat upon him and stoned him, and his name was dung.
But the once mighty nation was no more; and the once proud people were without sustenance or shelter or hope.
And the Change that "The One" had given them was as like
unto a poison that had destroyed them from within, and like a whirlwind that consumed all that they had built.
And the people beat their chests in despair and cried out in anguish, "Give us back our nation and our pride and our hope!!"
But it was too late, and the once-glorious "Home of the Brave and Land of the Free" was no more..
You may think this is a fairy tale, but it's not.
It's happening RIGHT NOW,
Already---- everything down to the last couple of lines...
Monday, May 18, 2009
In Case You Missed It Dept:
President Obama proclaimed a National Day of Prayer Thursday but he didn't have any time to hold any public observances. You can imagine his irritation. He's the first president to have to spend National Prayer Day in his office answering prayers.
President Obama went to a Virginia hamburger stand for lunch Tuesday and he ordered a burger with Dijon mustard. He got puzzled looks. If you ask the average Virginian in a restaurant for Dijon they give you direction to the men's room.
Treasury Secretary Tim Geithner rolled out a new plan Friday to get tax cheats to pay the money they owe to the government. The penalties for tax cheating are very strict in this country. If you are caught, it could get you a cabinet appointment.
The White House announced President Obama will go to Normandy and speak on the sixty-fifth anniversary of the D-Day invasion. He's seen pictures of the landing. He wants to go to France and apologize personally for America littering their beaches.
The Interior Department announced Friday it will re-open the Statue of Liberty's crown, which has been closed since the World Trade Center attack. Things have changed since them. When tourists thought they might be hit by a hijacked airliner they were afraid to go up there, but now that they could be hit by Air Force One, it is an honor.
The White House released photos of Air Force One flying low over New York last week. Cellphone videos showed people running through the streets in panic. The Air Force One flyover project has been renamed the President's Project on Physical Fitness.
President Obama stood at the lectern at the White House Correspondents' Dinner Saturday and told funny jokes about himself and his family. The press walked out. They will not tolerate anyone telling jokes about Barack Obama, they think it's racist.
President Obama did stand-up comedy at Saturday's White House Correspondents' Dinner where the president got huge laughs from a room full of reporters. It was like a worship service. At last he found a church he can join with a clear conscience.
President Obama met with trade lobbyists for hospitals, doctors, insurance and drug companies Monday. Neither side cares about health. He was dealing with lobbyists and they're dealing with the first president in history who smokes Newports.
President Obama slashed Chrysler's advertising budget in half Tuesday. This is his area of expertise. He told them they don't need a hundred million dollars in advertising if they can just run a few negative ads in Iowa and get Chris Matthews on their side.
Sarah Palin signed a book deal to write her memoirs Monday. She said she wants to tell her family's story without going through the filter of the mainstream media. They're always obsessed with who's pregnant, who's high and who reminds them of Nixon.
President Obama met with House Democrats Wednesday and told them that he wants a health care reform bill on his desk by August. The president told reporters that he wants the legislation now because the stars are aligned. The stars are under the mistaken impression that plastic surgery will be covered by the new health care plan.
The U.S. Senate held hearings Wednesday on the enhanced interrogation techniques used on terrorists. They're all more familiar with waterboarding than they will admit. Every night reporters pour vodka down their throats and they sing like canaries.
The Social Security Administration said Wednesday they mailed stimulus checks last month to ten thousand deceased Americans. The government sent two hundred and fifty dollars to ten thousand dead people. In Chicago, it's known as get out the vote money.
Somali pirates retreated to the African shores Monday when the annual monsoons arrived, making the sea too rough for pirate boats to chase tankers. It caused environmentalists to tear their hair out. They can't figure out why the climate is saving the oil industry.
Nancy Pelosi said Thursday the CIA lied to her seven years ago in the briefing about the waterboarding of terror suspects. She said they didn't brief her, but the CIA records and other congressmen indicate they briefed her, then she said she knew but she wasn't informed.
Miss California sounded better explaining where babies come from. - - Argus Hamilton
On Oprah, Elizabeth Edwards attacked her husband's mistress. Somehow, John Edwards convinced his wife that the mistress seduced him. Guys don't try this with your wife — John Edwards is a politician and a trial lawyer.
John Edwards says he and his wife are getting to a better place. Actually she's getting to a better place — he's getting into a smaller place: two bedrooms, furnished, nothing fancy.
It seems President Obama was the first president to not have a prayer service for National Prayer Day. I understand that — between the Rev. Jesse Jackson and the Rev. Jeremiah Wright he hasn't had the best of luck with prayer services.
The National Institute of Health is sending researchers into bars to find out why gay men engage in risky sexual behavior while drunk. Here's a better idea: How about finding out why politicians like John Edwards engage in risky sexual behavior while sober?
John Edwards said he and his wife are getting to "a better place." He said after admitting the affair, he took a look in the mirror and fell in love all over again.
Elizabeth's Edwards' book "Resilience" comes out today. John's is already out: "Cheating for Dummies."
President Obama held a poetry night the other night at the White House. When former President Bush heard about it he said, "Now that's torture."
House Speaker Nancy Pelosi says that she was misled by the CIA on waterboarding. She spent eight years complaining about how dumb President Bush was and the minute she's in trouble, she says he fooled her. - -
The president may have a nominee for the Supreme Court by the end of the week. Does it bother anybody that he took him 10 times longer to pick a dog?
President Obama hosted a poetry slam at the White house. These can get out of control. Apparently somebody got up on stage and rambled on and on, and didn't make any sense . . . when Joe Biden was done, they started the poetry. - -
Barack Obama and Joe Biden made a surprise trip outside the White House yesterday for burgers. Obama ordered a cheeseburger and Biden asked for "whatever comes with the toy.” After they finished the meal, Obama put the duct tape back over Biden’s mouth.
- - Jimmy Fallon
It's graduation time. The NYU graduation speaker? Hillary Clinton. You think she looks great in a pantsuit, you ought to see her in a robe.
- - Letterman ----------------------------------------------------
I have four extra tickets for the Robbie Knievel (son of Evil Knievel) Event at the Ford Center next weekend in Beaumont, Texas, if anybody wants them. He's going to try to jump 1,000 Obama supporters with a bulldozer. Should be a good time. Let me know........
---------------------------------------------------- NEWS FLASH: OBAMA TO TAX ASPIRIN! I JUST HEARD THAT OBAMA IS GOING TO IMPOSE A 40% TAX ON ASPIRIN BECAUSE IT IS WHITE AND IT WORKS.
Sunday, May 10, 2009
By Alexander Maistrovoy
A journalist with the Russian-language Israeli newspaper Novosty nedely.
On the threshold of fiasco
Could president of USA Barak Obami promote peace process in the Middle East and neutralize nuclear threat from Iran? Should West to open dialogue with Syria, HAMAS and "Hezbollah"? Will the new government of Israel become an obstacle to the peace process?
Interview with Dr. Sami Alrabaa
Dr. Sami Alrabaa is a professor of sociology and an Arab/Muslim culture specialist.
Before moving to Germany he taught at Kuwait University, King Saud University, and Michigan State University.
- President Obama considers peace process as a priority direction of his policy. How do you estimate the chances of peace process?
President Obama has proclaimed lots of priorities: economic, financial, nuclear, climatic, and peace in the Middle East. In the latter he will fail like his predecessors.
He has to deal with numerous diehard players: Hamas, Hizbollah, Iran, Syria, etc. Obama and his Secretary of State Hillary Clinton will not achieve anything.
The only person who could make a change, a substantial change is someone like Yasser Arafat. After more than thirty years of political fanaticism and defiance, Arafat – an undisputable leader among his people - realized that he could have peace and a Palestinian state only at the negotiation table.
This kind of leader is still missing among Palestinians. I am pretty sure that Avigdor Liberman would love to conclude peace with such a leader, provided the latter recognized the right of Israel to exist.
- Could Mahmud Abbas keep the power on the West Bank in case of creation of the Palestinian state?
Mahmud Abbas is a weak leader. He has lost a big part of Arafat’s power to Hamas.
Hamas is “cancer” in the Palestinian body. Hamas, however, could change into a positive player if an “Arafat” takes over. For the time being this is unthinkable. Hamas needs maybe 2-3 decades to let this happen.
- Do you see connection between the peace process and the Iranian threat? Can possible agreement between Israel and Palestinians help to West to neutralize Iranian ambitions? Do you think that the Obama’s administration can solve the Iranian problem better than Bush?
The same applies to Iran. Unless a moderate leader takes over, Iran will stay combative and rejectionist in terms of the Palestinian issue. The rise of a peace leader among the Palestinians could neutralize Iran’s role in a peace process.
The pressure that the world community, including Russia and China, is exerting on Iran with regard to its nuclear program will deter Iran from becoming a nucl! ear power.
The nuclear program in both Iran and North Korea is a desperate attempt to keep the regimes alive in these countries.
- How do you estimate the Saudi initiative?
The Saudi regime has always played a hypocritical role in the Middle East. All its “initiatives” have been designed to serve its interests and survival in the Middle East. The Saudis would endorse any solution that guarantees their survival.
- The new Minister for Foreign Affairs of Israel Avigdor Liberman declared that Israel will not respect decisions of conferences in Annapolis. How such position can influence the peace process and regional situation?
Avigdor Liberman is not less combative than Menachem Begin when it comes to secure the existence of Israel. He will accept any solution that safeguards this existence side by side with peaceful neighbors.
- Liberman is considered in the West as the extreme nationalist and opponent of peace. What your opinion about this matter?
It is not true that Liberman is an opponent of peace. He is an “extreme nationalist” out of fear for saving Israel from being devoured by its aggressive, extreme nationalistic, and fanatic Islamist neighbors.
- There are disagreements in Jerusalem concerning the possibility of peace with Syria. Do you see real prospect of peace between Israel and Syria in close future?
At present and under the current circumstances, Syria would not conclude any peace with Israel. If this happened, Syria would risk antagonizing Iran, Hizbolla, Hamas, and Islamists worldwide.
Bashar Al Assad is not Anwar Al Sadat, and he will not be. A peace agreement with Israel at present would be an act of suicide for the Baath regime in Damascus.
- Whether Egypt is interested in cooperation with Israel in a matter of Gaza blockade, according to your opinion?
The regime of Husni Mubarak of Egypt is not interested in a strong Hamas. It is, though, interested in keeping Hamas a thorn to destabilize Israel.
The Egyptians approve of those tunnels through which Hamas smuggles arms into Gaza, but they are not interested in opening their borders with Gaza. The Egyptians are notorious for being double-faced.
They tell Hamas and the Palestinians something and the Israelis something different. For the Egyptian regime and the other Arab regimes, the Palestinian issue remains a distracter from tackling the titanic problems these regimes are facing.
- USA, Great Britain and some other countries in the West are ready to talk with HAMAS and “Hezbollah”?
Do you think such dialog can promote peace process?
Talking to Hamas is futile. Even George Mitchell, the Middle East envoy of President Obama, realized that and said that at the outset of his mission.
Check out Hamas’s Charter:
Hamas declares unequivocally that its aim is the destruction of Israel. And I do not think that Hamas will in the foreseeable future renounce that.
Friday, May 1, 2009
As a result Americans have become sheeple who are being terrorized by the ruling illuminist class. We recently saw signs of unhappiness at the “Tea Parties held around the nation. Those kinds of activities are healthy in a Democracy, but they have to be turned into further action - not just an email here and there to Congress.
Remember your government considers you the enemy. You are a terrorist because you disagree with what government is doing. You disagree with a mob of white-collar criminals, who are stealing everything not nailed down and most of whom are willing to go along with a one-world government. Is it any wonder so many Americans are leaving the US?
The long arm of government is reaching into every cranny of our lives. We do not think Merrill Lynch and AIG’s incompetents should have received bonuses, but the very fact that government was ready to institute a retroactive 90% income tax rate should send shivers through every American. It should also be very disturbing when the CEO of Bank of America testifies under oath that Paulson and Bernanke forced him to shut up over the Merrill Lynch bonuses. Paulson said Bernanke directed him to do so and the Fed said no such orders were given. They are all liars.
The increase in money and credit, the monetizing and demands by the Treasury in just 2009 alone will devalue the purchasing power of the dollar by 85%. Is it any wonder that smart Americans are buying gold and silver for protection and for wealth preservation? There is a currency collapse in process and the public doesn’t even realize what is being done to them. We are talking hyperinflation during the second half of the year. Americans will be totally blindsided by the events and as long as the government continues to have budget deficits of over $2 trillion a year and the Fed monetizes, the worse it will get. The $2.50 loaf of bread could be $15.00 in just two years.
What is going on is that the rich, elitist, Illuminists who control our country are looting it. They want it all and world government to boot. The public is being thrown to the dogs. Not only is America losing its moorings but so is the world. Wait until the public cannot feed itself, or pay for drugs and medical care: or when government tells you that your physical problems can no longer be treated by the state because you are 72, and you are told to prepare for death; or if you desire government will happily end it all for you.
There will be no quality of life remaining.
America is led by degenerate, ignorant, Satanists who perpetually sell out their constituents at every opportunity. America has become a very dark place.
Over the next few years there will be no warning bells. You will need a suit of armor to protect you both physically and emotionally. Financial chaos could come sharply and quickly or subtly; prepared you’ll survive unprepared you will perish. That is what the IF is all about, knowledge and preparation. Sort of like a class at university. That is why we are thankful that we can do 20 hours of radio programming a week that reaches millions of people throughout the world. Hopefully we can prepare them for survival.
The signs of America’s demise and that of the world as well, are all around us. The morality of leadership and law are gone. The rules are whatever the leaders want them to be. We are a nation of corporations bent on profit, greed and control of the American public. What it all is headed for is bankruptcy and the control and oppression of the people.
What will you do when you find your bank is closed, or all the banks are closed? If you haven’t made preparations you have problems. That is why $5,000 in small bills in your safe at home, along with your gold and silver coins can allow you to survive. Wars will be raging across the planet and food will be of preeminent importance.
You won’t need to worry you will have put aside food for such an emergency. Then will come the oppression of government. If you protest, you will be rounded up and put in an internment camp, or perhaps shot down in the streets by goons from Homeland Security or by FEMA mercenaries.
The Illuminists will explain to you how they will protect you and once control is reasserted how wonderful our new world will be. They are there to help you when in fact they created this condition, this violent misery. They will explain how foreign troops are here to help bring order, when they are there to make sure the bogus, evil government is protected against those who prefer freedom. America could be breaking apart. States are declaring sovereignty and breaking away from the seats of power in Washington and New York.
Food won’t be available. It will have been wiped out in the first wave of panic and gangs or groups will be roaming the streets. If you are fortunate you will have power and water, but in all likelihood they will have been disconnected.
Those with salt, sugar, candles and matches and toilet paper will feel blessed. This is not some fantasy. This is where we are headed, so you had best prepare yourself quickly.
New economic growth cannot be generated by printing, borrowing and spending money. This is what is happening worldwide to most nations and no matter what the experts and government say it won’t work.
Due to the fantastic increase in money and credit the G-7 are on their way to being 3rd world countries. If you understand this you can profit handsomely simply by being long gold and silver related assets. We are now seeing four generations of economic and financial illiterates weaned on Keynesianism.
A lot of wealth is going to be transferred and that presents a once in a lifetime opportunity for those who understand what is transpiring. The G-20 countries are insolvent. There has to be deflation and default. The longer the elitists wait the worse the fallout will be. In the 1930s it took five years for de-leveraging to begin and for debt to finally be paid off.
Our recession began in February of 2007. It began depression in February 2009. If we extend out five years, that would take us to 2012. Today we have a combination of government, individual and corporate debt that goes into the trillions of dollars. The corporate debt holders are carrying mark-to-model debt at $0.90 on the dollar when it is worth $0.10 to $0.30.
A falling economy makes it difficult if not impossible for the debt to be paid off or written off because they lack the income to do so. Government has assumed part of that debt by purchasing it. It is monetization and every time they do that they stoke the fires of inflation. In order to combat a slowing economy over the past ten years deficit spending and money and credit expansion were substituted.
As you know everyone is buried in debt in America as a result. Earnings are off 80% and tax revenues have fallen 90%.
Fiscal debt has risen from $450 billion to an estimated $2.5 trillion.
World trade has fallen some 40% and countries are already setting up trade barriers and subsidies. This debt will force continual monetization by the Treasury and the Fed, which means further inflation. It also means a falling dollar and countries devaluing their currencies and using subsidies to beggar thy neighbor in trade.
Unless the dollar is devalued and debt defaulted the US cannot hope to survive as a first world nation.
The debt payoff could last 100 years or more. In the Bush years the size of government doubled. In the Obama reign it will be doubled again in one year.
All of this is terrible but much worse is out in the open we don’t care if you know corruption. It has infected not only government, but every cranny of the corporate world, particularly in banking and on Wall Street. We can promise you under our new President Oba-Hussein corruption will reach new highs:
90% of Congress has been purchased, as has our 2-tier court system. Stock markets of the world may have rallied recently, but don’t be deceived the worst 2/3s is still ahead of us.
The “Working Group on Financial Markets has never been more active manipulating markets and you are seeing the result of that in markets worldwide, including the gold and silver markets. The market rigging is relentless, but always only temporary. In the end the markets will always overpower manipulation by government.
No matter what the elitists do the Dow is going to 3,800 to 4,200 and we’ll be lucky if it finds support there.
The Stress Tests were released in a splash of white wash. All the results were known well in advance. All 19 banks are broke. Going into the redundant details is a waste of time. The conversion from preferred to common stock from TARP recipients will effectively privatize not nationalize major banks under the Fed into one large bank making it easier later to incorporate American banking into a one-world bank. Over the next few yeas, 2,000 to 3,000 banks will go under and be absorbed by the bigger banks to further consolidate banking.
As a result of these machinations banking, Wall Street and insurance companies are in a state of collapse. They will be followed by funds, hedge funds and pension and retirement plans collapsing as the economy collapses. You are also about to see hundreds of GM’s, Chryslers, AIG’s, etc.
The next minefield Congress is about to enter is the guaranteeing of state and municipal debt. It won’t be long before these entities won’t be able to service their debt, due to the lack of tax revenue. All these actions are collectivist in nature and they are turning us into a corporatist fascist government. We are to become tax slaves for the New World Order.
In an effort to protect the public Congress may pass legislation that would limit fees charged by credit card customers. As a result billing practices will become even more aggressive and more fees will proliferate. It also means marginal users will be dumped and perhaps what banks call dead beats, those who pay off their entire balance every month, will be dumped as well. There will be no more easy access.
This will negatively affect consumerism and further injure the economy.
The banks have been ripping off customers and other credit card holders for years and everyone knows it. Congress is not only incensed at the rates but at the practice of “universal default.” That is when one loan is delinquent and all banks that you deal with increase rates due to that one problem. The solution of course is to only issue cards to people with good credit histories. This is the way banks issued loans and cards for years. They’ll have to return to that practice if they expect to cut their losses.
The Fed’s balance sheet showed 89% of their asserts were AAA two years ago. Today that figure is 24%.
Today they have $355 billion in MBS, Mortgage Backed Securities, and $61 billion in debt issued by Fannie, Freddie and Ginnie.
Their assets, most of which were created out of thin air, were $833 billion and they are now $2.19 trillion. Even though the Fed has bought $238 billion worth of commercial paper, as of six months ago, that market is still in serious trouble. The list of loans of dubious quality goes on and on. The Fed has total capital of $46 billion putting its leverage at 48 times versus 27-1 a year ago. We believe the Fed is way overextended. Perhaps they will eventually collapse – who knows.
The bear market that began at Dow 14,100 has dramatically reduced the value of Assets of S&P 500 companies. At the end of 2008 they were worth just $1.1 trillion, or a short fall of $300 billion. After the 10% fall in the first quarter those asset are now worth even less.
In 2008 S&P 500 profits were about $132 billion. Thus the pension shortfall is almost three times annual profits. You can now better understand why our government manipulates markets. A fall, which we perceive could happen, to Dow 4,000 would put the shortfall at more than $600 billion and even the strongest balance couldn’t overcome that and benefits would have to be reduced.
On the horizon are many countries and companies that won’t be able to raise money at a reasonable cost. At the head of the list is Eastern European countries that borrowed in Swiss francs and cannot service that debt never mind new debt. The IMF has stepped in to assist with the group as well as the Ukraine. Then there are Greece, Spain, Ireland, Italy and Luxembourg. Britain’s finances are so bad they may not qualify for an IMF loan.
Then come the US government and individual states. Although Europe is presently the worst off, Austrian banks are holding most of those Eastern European loans, so they should get banged around pretty hard.
Those bond buyers such as China, Russia, greater Asia and oil producers have turned the tap off and in fact some of these countries have been sellers. Of the $6.7 trillion in paper held by these countries, $248 billion has been sold, or just a little under 4%. It may not seem like much but it is. Lower oil prices have been a major block. Countries do not have the revenue anymore.
In the UK debt is 200% of GDP; 80% to 100% can usually be managed.
Japan’s $1.5 trillion state pension fund, the world’s biggest, will begin to sell state bonds to cover a $40 billion shortfall. Next year Japan’s debt will be 200% of GDP.
Pensions are coming due not only in Japan, but also in the US, Germany, Italy, Korea, Eastern Europe and even China. Demographics play a part with fewer working and more pensioners.
Where does the $6 trillion come from to meet this debt demand? It comes from massive monetization - that is worldwide monetization. That means massive hyperinflation worldwide. This buys time but the final result will be deflationary collapse. The amount of money and credit being created worldwide is staggering and it will continue to overcome the ‘what is called deflationary spiral.’ This leaves the dollar and all currencies vulnerable to losses versus gold and the dollar is very vulnerable versus other currencies as well.
We even hear cries for the Fed to issue its own debt – just more worthless fiat Federal Reserve notes. Just another attempt to push back the clock on financial judgment day.
The Clock Ticks Towards Financial Judgement Day