By Jack Mullen |
“Is there no danger to our liberty and independence in a Bank that in its nature has so little to bind it to our country. The president of the Bank has told us that most of the State banks exist by its forbearance. Should its influence become centered, as it may under the operation of such an act as this, in the hands of a self-elected directory, whose interests are identified with those of the foreign stockholders, will there not be cause to tremble for the purity of our elections in peace, and for the independence of our country in war.” – Andrew Jackson
The coming collapse of the American middle class will be one of the most devastating events of the 21st century. For most middle and lower middle class American families and wage earners, this will come as a total surprise – like the surprise of the sleeping Japanese, on Hiroshima, waking early on the morning of August 6, 1945 to tea and a Nuclear bomb.
The coming collapse of the financial system, including the collapse of dollar purchasing power and the final death knell of collapsing bond prices, bringing soaring interest rates, has been discussed ad-nauseam for decades – most heavily predicted after the first notification of the event was telegraphed in October of 2008.
The earlier prognosticators, including myself, were right – but without inside knowledge of just how long the current financial system might be able to be rigged, manipulated, and through trust-based fraud (a con) coaxed to continue. But not now. Now it’s apparent, the time has finally arrived and we are in final days of America before collapse. Remember these days, because they will be the “good ole days”; the happy talk veil of deceit, betrayal and long-winded lies is about to be lifted.
Americans were warned, even by the Founding Fathers, it would be hard to keep the “Republic” – even harder to prevent International bankers from infesting and then “investing” in America; stock, trade and resources. They warned it would be extremely difficult to prevent the private issue of currency and the age-old deleterious corruption of a debt based central bank fiat currency. Thomas Jefferson warned in a letter to John Taylor in 1816,
“And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
Andrew Jackson understood the danger of permitting a private corporation the right to issue the nations currency.
“If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations.” – Andrew Jackson
The mortal wound for America came in 1913 with the “Federal” Reserve Act, followed by the improperly ratified 16th amendment giving the appearance of a Constitutional Right to collect income tax, and finally the 17th Amendment, eliminating States’ right to maintain a state Representative chosen by the State government in the United States Senate; Senators thereafter elected by popular vote of the “mob” and not the representatives of State interests. All of these mentioned ‘changes’ of 1913 were steps taken to bring about, deliberately, the crash and reorganization facing Americans today.
Arguably 1912 and 2016 are rhyming years, with many ominous parallels between what happened in 1913, and scenarios already foreshadowed for 2017 and beyond. I predict 2017, like 1913, will be a year of vast changes in the former Republic of the United States of America.
America has faced banker caused financial downturns and even the so-called Great Depression and the middle class survived, albeit large sums of American wealth was transferred to bankers.
This time, however, will be much, much different. Unlike the financial downturns of the 20th century, including the “Great Depression” – Americans will have nothing of value remaining after the purchasing power of the dollar is destroyed. At least during the “Great Depression” the dollar was backed by gold and had INTRINSIC value and its purchasing remained stable; today the dollar is backed by nothing at all. America’s wealth, based in dollars, will collapse with the purchasing power of the dollar.
In the 1930’s 50% of Americans lived in what would be called rural areas, with 30% of those actually living on a farm and 20% living in rural non-farm locations. Farmers produced massive amounts of foods in the 1930’s and it was only because of falling food prices, (meaning a rising dollar value) that rural peoples began to suffer from the effects of the Great Depression. The rising dollar value was caused by a shortage of dollars (credit) – remember the dollar had intrinsic value and was hoarded – and by competitors forced to lower prices to capture the available money supply.
At the beginning of the depression, $35 would still buy an ounce of gold. Compare that to today’s manipulated and artificially depressed value of gold requiring $1300 for an ounce.
Today, less than 3% of the total population are actively working on farms in America (deriving income), with massive amounts of foods produced in larger corporate farms and also imported from nations around the world. The US is now highly bottlenecked in regards to food supply during a significant economic downtown, like dollar devaluation, which might affect prices facing the few remaining farms, or cause a decline in available food imports or the input resources for the massive farms. Today less than 15% of the population lives in rural areas of the nation.
The United States at this moment is totally and unquestionably bankrupt. It is in a state of prolonged bankruptcy as this government continuously, around the clock, borrows money. Some ‘money’ borrowed from recycled foreign reserves at interest, which are reused again as spending and some money from domestic investors looking for a fixed income over the life their “loan” and some ‘money’ from the Federal Reserve acting as a “buyer of last resort” of bonds, producing new money out of thin air and yet receiving real interest. According to Simon Black ,
The governments own numbers show that official liabilities, including debt held by the public and federal retirement benefits, total $20.7 trillion. n total, their net worth is NEGATIVE $17.7 TRILLION a level that completely dwarfs the housing crisis. If you include the governments own estimates of the Social Security shortfall, this number declines to NEGATIVE $60 TRILLION.
And it gets worse every year.
Now, is this balance sheet an accurate reflection of reality? Do we really trust the bean counters to tell us what the United States of America is really worth?
Yet the governments assets, including the value of the entire federal highway system, the national parks, cash balances, etc. totals just over $3 trillion.
Buying Your Own Debt
The Federal Reserve is the largest single holder of United States Treasury Certificates. Its not China or Japan or any other nation, but rather the United States’ proxy Treasury, the private banking cartel, deceptively called the Federal Reserve, which is buying troubled or new debt issued by the United States. Note the Federal Reserve is a private banking corporation with banks in the United States and around the world holding stock in this corporation. A starting point for investigation might this short article .
Currently, the Federal Reserve balance sheet is holding over $2.2 Trillion in Treasury Debt, over 4.6 times the amount of US debt held by the Fed in 2009 shortly after Obama came into office. Thats 215 billion per year increase in Obama’s 8 years.
The Federal Reserve balance sheet also holds $1.5 Trillion in mortgage back securities; mostly toxic subprime mortgage contracts that are exceptionally interest rate sensitive and represent real-estate mortgage banking industry fraud and corruption.
This process of buying your own debt is equivalent to a dog eating its vomit. The Process is called “monetizing” the debt, which is a euphemism for keeping bond prices stable via decreasing the purchasing power of the dollar – ie., stealing from dollar holders to prop up the government’s funding racket.
Currencies based on debt with interest, must constantly circulate, and must continuously grow in total supply. All currency has been borrowed into existence and, as such, each unit must be repaid with interest. In order to meet interest costs, new borrowing is required or a credit shortage will occur leading to ruinous interest rates and falling prices, followed by escalating bankruptcy and financial collapse.
As currency is paid back (debt reduced) the currency supply is reduced and by induction all currency in the system begins to disappear. Debt repayment must be balanced with new borrowing or the scenario above repeats.
Assets held in paper are based on currency and as people lose their appetite for debt and begin to buy and hold their assets as long term paper “investments”, the supply of rotating currency is absorbed and reduced.
If no new currency is injected or made available to circulate, the economy again collapses. On the other side, we find the Federal Government in a position of needing ever-increasing quantities of currency to service interest payments on existing debt.
In desperation to maintain the currency and secure the banking system, paper assets will be seized and converted to currency and forcibly given to the government in return for interest bearing paper promises to pay. This will be done in the name of safety.
As a final step in the America Empire’s struggle against reality and ruinous collapse, the wealth of Americans in all forms will be turned into the blood of the machine. Currency is the circulating blood of a predatory system based on central banking and debt based “money”.
Money Market, Mutual Fund and Retirement Account Holding Investment providers are now switching their portfolio assets from harder assets and stock investments to Treasury securities. Charles Schwab and Co has already begun notifying its customers of this change coming between June and October 2016. It has long been forecast the Federal Government will use an argument about investment safety and begin to move American’s retirement account assets into essentially soon to be worthless paper US Gov securities. You should be able to see the writing on this wall.
As the retirement account assets are liquidated and the cash provided to the US Government in return for an interest bearing IOU, the government can continue to buy treasuries being sold by debt holders around the world, spewing American’s wealth out as confetti dollars while keeping together the “Con” of financial stability for a few more weeks. This represents a liquidity exchange – calming nervous foreign investors by buying back USG paper debt, while slyly stealing the American private liquidity to pay interest and to stabilize the bond market to lengthen the time before collapse.
Most American’s private reserve wealth is held in some form of paper assets: retirement accounts, annuities, stocks, bonds, paper claims to gold and silver held “off premises”, homes still under mortgage contracts and undeveloped land rented from property tax authorities.
In the last gasping days of the American Empire, these assets will be converted into currency to power the machine while the purchasing power of the currency collapses. Moreover, as these assets are turned into currency the government’s IOU’s will become worthless, wiping out America’s privately held reserve of wealth.
The US Government Bureau of Labor Statistics has been busy over the last 8 years redefining employment in the USA. Significant modifications have been made as to how the BLS counts unemployment. The problem is, however, these changes have been done to deceive not to clarify what is happening in the job market. The tricks are done using new definitions of employment and also be discontinuing the branch of the labor statics bureau that counts layoffs. The reason for this is layoff data provides a clear indication of economic health. Using cost cutting as the reason, the BLS discontinued monitoring Mass Layoffs in 2013. By using accounting tricks, unemployment can be anything the reporting agency desires. Here are a few word tricks used to confuse unemployment numbers. This information from ZeroHedge.com
“[…] what we reckon qualifies as a job. In general, the BLS and the Census Bureau count anyone with earned income as employed. The BLS reckons 148.8 million people have jobs, but this includes 23 million people who earn less than $5,000 annually. The Social Security Administration (SSA) states that 155 million people reported taxable income, which includes not just earnings (wages and salaries) but distributions from retirement funds, IRAs, etc. that are taxable. Wage Statistics for 2013 .”
The question boils down to this: should we count someone who earns $1,000 a year as employed? How about someone who earns $5,000? At what point does an income enable a person to support himself/herself? Should we place those earning incomes far below a living income in the same category as those with full-time jobs/incomes?
According to Accountant Daniel R. Amerman, CFA, from his article entitled, Making 9 Million Jobless “Vanish”: How The Government Manipulates Unemployment Statistics.
“The true unemployment picture is hidden by essentially splitting jobless Americans up and putting them inside one of three different “boxes”: the official unemployment box, the full unemployment box, and the most obscure box, the workforce participation rate box.”
John Williams computes unemployment using older algorithms developed by the BLS during a period of time when lying about unemployment was not necessary or prudent. Here is his most recent set of data. Using William’s more rational, alternative method of calculating unemployment, we see the level is closer to 25% than to 5%. The maximum unemployment of the “Great Depression” was only 25%.
For purposes of brevity here are just a few recently announced layoffs, and bankruptcies.
Retail bankruptcies are on the rise. In this year alone we have seen a long list of retail outlets going bankrupt including:
American Apparel, Cache, Wet Seal, Quiksilver, and Pacific Sun (PACSUN), Eastern Mountain Sports, Sports Authority, Aeropostale. Department stores of national recognition like Macy’s are changing their retail marketing strategy and closing stores. According to Business insider.com, In the near future, Macys stores could turn into discount outlets …the stores will sell Macys brands at steeply discounted prices up to 80% off.
Caterpillar sales have suffered greatly since 2011, with net income falling by nearly half and now Caterpillar to Close 5 Us Plants and Eliminates 800 Jobs
EMC: Estimated percentage of jobs to be cut this year: 15% to 20% Estimated number of cut employees: 10,000 to 14,000 Cisco Systems: Estimated percentage of jobs to be cut this year: 20% Estimated number of cut employees: 14,000 HP Inc.: Estimated percentage of jobs to be cut this year: 30% Estimated number of cut employees: 14,000 Microsoft: Estimated percentage of jobs to be cut this year: 15% Estimated number of cut employees: 18,000 Oracle: Estimated percentage of jobs to be cut this year: 20% Estimated number of cut employees: 26,000 Hewlett Packard Enterprise (HPE): Estimated percentage of jobs to be cut this year: 30% Estimated number of cut employees: 72,000 IBM: Estimated Percentage Of Jobs To Be Cut This Year: 25% Estimated Number of Cut Employees: 95,000
Furthermore the Obama Administration, working as an agent of a global conspiracy to create a one world government, has been busy stifling and controlling the coal mining industry in the United States, while forcing closure of clean and plentiful coal fueled power plants around the nation. The war on coal is forcing mining companies into bankruptcy while causing substantial job losses and soon rising electricity costs and less stable or available power will become the national norm.
Over 40 coal companies , mostly in central Appalachia, have gone bankrupt since 2012. These plants are directly affected by deliberate agenda of the United Nations Via the US EPA to eliminate coal as a source of energy in the United States. The pretension of global warming is a criminal fabrication hiding an agenda of organizing sweeping control of all energy resources.
From 2008 to 2012 50,000 jobs were lost in the coal mining industry, it is projected the job losses are now over 120,000, while shutting down 66 power plants nationwide. In West Virginia, nearly half of coal related jobs are gone and any new hires are taking up to 50% less pay.
The direct and soon to be realized consequences of this deliberate, and malicious, attack on the coal mining industry will be, of course, job losses, but also the affect will be in steadily rising electricity costs. While most know Obama told us clearly the plans are to curtail any future power plant construction based on coal
“So if somebody wants to build a coal-powered plant, they can; its just that it will bankrupt them, because they’re going to be charged a huge sum for all that greenhouse gas thats being emitted”,
but he also told us to prepare for rising energy costs.
“Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad”,
Killing the coal industry means rising cost for any coal still in demand, while scuttling years of mining knowledge, selling off expensive mining equipment and collaterally damaging support equipment manufacturers and their suppliers.
Deception in official statistics is rampant, and the housing market is prime example of the “will to deceive” by government accountants. Housing stats are manipulated, and behind the scenes, the banking industry is propping up prices by keeping unsold inventory and foreclosure properties off the market, while Wall Street investment Hedge funds take possession of ever-increasing numbers of distress sale homes, leading to higher rental prices and even perceived housing shortages in some areas.
“Since 2010, institutional investors backed by Wall Street have purchased a total of 528,369 single-family homes nationwide, led by Florida (78,155), California (52,802), Georgia (46,914), Arizona (35,979), and North Carolina (34,769), according to RealtyTrac. These represent about 4 percent of all single-family homes sold during that period, and a higher percentage in distressed markets. Together, these Wall Street entities have raised close to $70 billion to buy these homes. Rents are expected to increase by 3 percent a year on average through the next decade, and to rise even higher in parts of the country that the Wall Street firms are targeting.”
So that it is possible to put off the ‘coming collapse, it is particularly important for the banking cartels to continue to loan ‘money’ (currency). When the appetite for debt is satiated, in a climate of economic decline, bankers are facing an enemy on two fronts. The ostensible enemy is low demand for interest bearing debt (usury); interest payments being one of the two things of value in the process of loaning money, the other being the item collateralized.
It is important to note, part of the magic of deceptive banking is banks put nothing of value on theline in the process of making a loan. The buyer puts up all the value, ashe/she accepts a claim against the value of his/her collateral and verifies the ability to sacrifice additional property in form of interest payments; this is known as being “qualified”. Next an agreement is monetized into credit, via a promise to pay for which she/he then uses as currency, created out of thin air, and placed as a digital entry into bank account.
When it is no longer possible to attract new borrowers, banks monthly stream of income begins to fall as loans are paid back leaving banks insolvent.
The second front is the collapsing value of previously collateralized property due to sell offs during a declining market or a popping bubble. Again, bank balance sheets experiencing decreasing market values of assets values held on the left side of the ledger become unbalanced and a technical insolvency arises.
Therefore, it is vitally important for banks, in collusion with government, to manipulate housing market data and keep foreclosures and excess housing for sale inventory off the market. It is also standard practice to not discount asset values , even though market values tumble. However, the time comes when even this scheme will not shield the banks from insolvency. We are reaching this point in the housing market deception.
As an indication of the dire need for interest income and balance sheet boosting Fannie Mae and Freddie Mac are demanding reduced standards for making loans, something which precipitated the outstanding bailout of these government home mortgage guarantee agencies back in 2008.
The housing market is a ticking time bomb with deception and fraud dyed in the wool of real estate fundamentals of the day.
Other coming calamities include:
1) Student loan bubble collapse, with over $1.1 Trillion in student loans, and college graduates unable to get jobs, while many others have just quit school. Some people are concerned the student loan bubble could have deeper consequences
[..]rising student debt could harm the economy in several ways: It could slow household formation, as graduates use down payment money to pay interest; it could slow business creation by overburdening potential entrepreneurs; and it could lead to postponed or abandoned retirement plans.
It is believed that up to 43% of the student loans currently active are in arrears or seriously delinquent.
2) An Automobile loan bubble collapse, with over $1 trillion in outstanding automobile loans, and over 23% loaned to subprime borrowers, will wreak havoc for the automobile industry – flooding the market with foreclosed and repossessed automobiles, while new car lots pile up with channel stuffed inventory. This crisis is yet to unfold, but expect to see the results soon as new car sales are slumping around the world. This slump, and the glut of low priced repossessed cars and trucks will lead to layoffs in the automobile industry and their supporting industry.
“The collapse of the auto credit bubble is far more likely to take the form of falling vehicle values than defaulting loans. When that happens, car plants in the United States will likely be idled or shuttered in favor of cheaper Mexican production, and the contagion will begin to spread throughout the American economy.”
Its probably safe to say that we will see another round of automobile manufacturer bailouts with borrowed ‘money’.
3) Rising healthcare costs and the collapse of Obamacare.
The “Affordable Care Act” is collapsing under its own corruption. With already over $1 billion in loans and backstop losses, half the government setup insurance co-op/exchanges around the country have failed wiping out insurance for 750,000 Obamacare clients. The 11 surviving plans continue to struggle , with more than $400 million in combined losses last year.
The government’s plan to maintain a failed idea is to attack monetarily people who do not buy Obamacare.
“Theres a growing realization the financial penalty for failing to obtain coverage is an insufficient cudgel to persuade younger Americans to enroll. The fee for 2016 is $695 or 2.5 percent of income, whichever is higher.”
“The problem with socialism is that you eventually run out of other peoples’ money . Margaret Thatcher.”
“The Blue Cross Blue Shield Association released a widely publicized report last month that said new enrollees under ObamaCare had 22 percent higher medical costs than people who received coverage from employers. source ”
The unworkable and unconstitutional Obamacare plan will likely lead to higher fees for those who do not want to pay insurance companies monthly fees (a protection racket).
And the big surprise is rising healthcare rates and higher deductibles are being planned around the country.
“Many insurers have been losing money on the ObamaCare marketplaces, in part because they set their premiums too low when the plans started in 2014. The companies are now expected to seek substantial price increases…Insurers are already making the case for premium increases, pointing to a pool of enrollees that is smaller, sicker and costlier than they expected.” source
States are already planning their increases,
“CareFirst Blue Cross of Maryland is asking for a 34% rate increase on its PPO plan and a 26.7% rate increase for its HMO. CareFirst has an 80% market share in the Obamacare exchange and only 30% of the eligible Maryland market has signed up on the exchange.”
Many other states looking for substantial increases are noted in the above article.
4) Cash starved and bankruptcy bound governments are another issue for the still working American. Many States and many more over extended local governments are working angles to squeeze more dollars from residents. States are also building more gambling facilities to hustle dollars out of desperate or addicted gamblers, hoping to hit the jackpot.
“The idea of luring people to the craps tables when they are being battered by the recession is an awkward one for state governments a point that has been raised by people who deal with the collateral damage from gambling .”
Cities like St. Louis are being forced to find other ways to drum up money rather than escalating fines and fees. In states like Missouri, the fines for minor infractions of the law have gotten so high that a new bill has been introduced to curb the looting.
“The House passed and sent to the governor a bill that takes aim at what critics call predatory municipal practices that target the poor and use courts and police departments as ATMs. If Gov. Jay Nixon signs the bill, people could be fined no more than $300 for minor traffic offenses. Cities couldnt pile on extra failure to appear charges because an offender missed a court date. And in most cases, traffic offenders couldnt be jailed for failing to pay fines.”
Recent studies point to increases in traffic tickets related to cash strapped municipalities.
“When you create a cash incentive, so to speak, to find somebody guilty of a crime, well, you’re probably going to start finding more people guilty,” said Makowsky, now an assistant professor at Towson University.”
Robbing citizens at the point of a gun, via increasing the number of statutes, creating speed traps, increasing court costs, and regulatory fees is on the rise and will continue to deplete the resources of the middle class, the primary source of all available wealth in nation.
5) Rising food costs may not show in the government’s cooked consumer price index, but for anyone on a budget trying to buy food it is very evident the dollar is buying less food every day.
With economists citing everything from global warming to a lack of labor to harvest crops as the reason for rising food prices, it is clear whatever the reason, food prices are on the rise.
The US Government advises that food prices will rise 1 to 2 percent over 2016 but cautions that this number is still below average inflation of 2.5%. However, we caution, the government’s average inflation numbers are cooked. According to John William’s Shadow Government Statistics real inflation is shown in the blue below. As we can see inflation is again rising and it is well above the government’s claimed numbers.
Looking at just inflation in food prices since 2010, we can see that food is getting very expensive, especially high quality foods and proteins.
Finally, one of the biggest issues for the financial system is the amount currency that will begin to find its way home, as the US dollar is downgraded to just one of many ways nations can purchase oil. The end of the Petrodollar Hegemony is coming very fast.
In fact, the only reason any currency has any value at all is because of the goods and services it will purchase. A nation’s currency becomes valuable only if the nation produces products. An even higher value is placed upon currency when the products are of high quality and in demand both nationally and internationally. Sadly, the United States of America has offshored large portions of its manufacturing to other countries. What was once an enterprising market in technology and intellectual property has been sold, stolen, given away through treason, or siphoned off through corrupt connections between the United States and foreign buyers and educational partners in American technology.
The petrodollar has run its course and is sustained right now by the United States Military and the time it takes to create systems designed to process payments in other currencies (setting up swaps and clearing houses, etc.) But with China’s Yuan to become a Reserve Currency in October and the work of the BRIC nations to create payment and clearing systems in Yuan and other currencies, it is will only be a short time before dollar’s abroad start to find their way back home before the rush which will follow when the dollar/oil connection is severed.
The petrodollar system breaking down, where oil is no longer paid for in dollars internationally, essentially would be the death knell to the U.S. dollar as the reserve currency. It means the U.S. cant borrow with exorbitant privilege anymore, and it means the U.S. Treasury market is set for an out-of-control interest rate spiral.
As the dollar becomes less used as medium of exchange for oil purchases, nations like China, Saudi Arabia, Japan and others which are holding enormous dollar reserves, will begin to spend those dollars before their value is gone. The total amounts of these dollars is well north of $15 trillion and when they begin to come home seeking products, real estate, industry and more, the value of existing dollars will plummet leaving Americans with less wealth overnight. American wealth is valued in dollars and when the dollar value collapses so does American wealth.
“In the three decades before 2000, total energy export revenue from the Middle East totaled $3.5 trillion. In the 13 years since, the total has swelled to more than $8 trillion. By one expert estimate, some $810 trillion in currency balances lie in Middle Eastern hands, much of it in dollars.[ibid]”
Some people, like Joel Skousen, claim there are some $300 Trillion in some form around the world, whereas we are told there are up to 1000 trillion that could magically become real claims against American property if a derivatives meltdown went worst case. Regardless of these incredible numbers, we know China is holding over $3 Trillion, Japan is sitting on over a $1 trillion, and Europe on nearly a Trillion dollars and the list goes on and on. If a significant change occurs in the purchasing value of a dollar, the flood gates will open and dollars will come home seeking value, creating hyperinflation followed by the collapse of bond prices and setting loose soaring interest rates finally causing a nuclear meltdown of the America financial system and the American middle class. Stores will empty, cities will quickly go dark and violent and the America middle class wealth will vanish like smoke after a short lived fire.
Unlike previous financial collapses in American history, the coming collapse include many financial channels which affect large portions of the American middle class.
This time most of the wealth of Americans is held in paper assets based on the US Dollar. The dollar however is not a store of wealth but rather ‘perishing’ debt based currency, which is due for massive devaluation. This time Americans are already over their head in debt. The average American pays $6658 in interest payments each year, nearly 10% of the household income. The average American is holding more than $15,000 in high interest credit card debt. At the same time, the cost of living is rising along all dimensions and is much higher than government reported figures.
Just using government numbers over the period of 2003-2015 household incomes rose by 26% while the CPI increased by 29%. [ibid] This is clearly an unsustainable situation.
Rising costs of food, healthcare, taxes, fees, phone bills, and insurance are outpacing the ability to create income. At the same time, Americans are being forced to replace full time, better paying, jobs with multiple part-time jobs while massive job layoff activity goes unnoticed each day, except by those trying to find a new job.
Many people are driving automobiles soon to be repossessed. After the repo, those people will be unable to work and soon will default on all of their debt.
Students are receiving expensive useless fabricated for-political-agendas college degrees. These students will not be employed and will not be able to repay their student loans.
At the same time, the United States has dropped to the second largest oil-importing nation behind China, while China and other nations are vigorously trying to get out from under the Petrodollar Hegemony, which is not in their interest, either nationally or financially. The dollar’s connection to a barrel of oil is the last leg holding up a mountain of debt, which can never be repaid by the Federal Government and Federal Reserve. The only possible payment system is the wildly destructive course of hyperinflation.
This time around, the dollar is not backed by Gold and American’s retirement accounts are all based in petrodollar paper assets. Meanwhile, the race has started to cut pensions, as corrupt corporations areforced to admit [insolvency].
A dark storm is brewing in the world of private pensions, and all hell could break loose when it finally hits.
As the Washington Post reports, the Central States Pension Fund, which handles retirement benefits for current and former Teamster union truck drivers across various states including Texas, Michigan, Wisconsin, Missouri, New York, and Minnesota, and is one of the largest pension funds in the nation, has filed an application to cut participant benefits, which would be effective July 1 2016, as it “projects” it will become officially insolvent by 2025. In 2015, the fund returned -0.81%, underperforming the 0.37% return of its benchmark.
Over a quarter of a million people depend on their pension being handled by the CSPF; for most it is their only source of fixed income.
“Within the next few weeks, the Treasury Department is expected to announce a crucial decision on whether it will approve reductions to one of the countrys largest multi-employer pension plans.”
The customs of that most criminal nation have gained such strength that they have now been received in all lands. The conquered have given laws to the conquerors. Seneca
America has been setup for the biggest financial fall of all time. This fall has been intelligently created and the plan is more than 100 years old. We are now in the final weeks or months of the America known to our Founding Fathers. By deception, and weakness of most to not think critically, the giant is about to fall.
Transferring some paper assets into physical, in-your-hands, hard assets might mitigate some of the pain. Always remember water, food, and firearms.
It is no coincidence the USG is obsessively and compulsively trying to disarm citizens, the Jewish Agenda to Disarm America is about protecting the government from the coming backlash, but also to make it easier for handling the former middle class of America when, and if, they decide to wake up and take back their country
The Way Back
The timing of these events is never known, but as I mentioned in a previous article , the Economist magazine predicted a new, world currency for the United States, and the end of the dollar, by 2018. This prediction was made in 1988, and we can see a perfect storm has been deliberately created to cause rejection and collapse of the American dollar and financial system. A financial system now so corrupted – collapse is all that is now possible.
There are, however, solutions to these manufactured financial problems. And, like Dorothy in the “Wizard of Oz”, Americans have always had the power to go home, back to an honest currency and corruption free financial system, which includes restoring the Justice System and the original jurisdiction Constitutional Government. All it would take would be to shake off the spell of fabricated imaginary prisons created by the fiction of words.
This financial crisis has been contrived and is based on fake and unlawful document fiction. The debt hung around the neck of American people is not real. Currency created out of thin air and loaned as debt with interest is still thin air – vapor.
I wrote an article back in 2013 with a five-year plan to turn American around, repudiate the debt, put the bankers in prison and keep what is already ours. The fertile fields are still here, America has an abundance of natural resources, like oil, coal, farmland, electricity, rare earth minerals, gold, silver, water and an idle population ready to be put to work building manufacturing plants, farms, support industry and more creating a reinvigorated and wealthier middle class and bringing back the greatness of America, free of the imported corruption and usury and the bankers that have poisoned the people and this magnificent nation.
From my 2013 article ,
The Five Year Plan to Recovery and Sovereignty
–To end this nightmare and rebuild America in five years (my guess), it would only be necessary to declare all Federal Reserve Notes void. Repudiate all national dollar debt, exchange void dollars held by America citizens for either Greenback vouchers or Bitcoin at some well thought out rate of exchange.
–All foreign exchange reserves would be pronounced void and all debt contracts with foreign nations repudiated.
–Next, declare all dollar denominated agreements, instruments, and systems involving dollar transactions void. Remove and rescind all powers and activities of the Federal Reserve and all banks attached to the Federal Reserve System.
–Return the powers and status of the organic United States Treasury and begin issuing new debt free currency as payment for Federal obligations.
–People holding mortgages and other debt products of Federal Reserve Banks would be given full title to any property held as Mortgage Collateral or forgiven all collateral free loans. Formerly licensed Federal Reserve participatory banks should lose all claim to properties under collateral agreements.
–Private, non-banking agreements, previously made in dollars, would be renegotiated in terms of the new currency.
–All military bases in all nations around the world should be closed, all materials and men and women brought home to a growing jobs market absorbing these men and women as new manufacturing opportunities demanded workers.
–Finally, it is necessary to place high tariffs on products that can be manufactured in America. Interest free loans could be made to those building and restoring American manufacturing, workers to be paid in the new currency.
Many will argue that repudiating and building tariffs against China will lead to war; I would argue that we are prosecuting a war now. Importing nearly every product from China has created a non sustainable demand for Chinese products. American prosperity was built on pioneering and innovation in diverse fields and technology, manufacturing, and an ethic of prideful work. There is no reality based way that Americans can continue to maintain their standard of living while also sustaining the Chinese standard of living. The only way America can regain its sovereignty is by ending the foreign trade racket and letting China build products for their own large population and encouraging China to embrace free market philosophies while developing a middle class to consume their products.
Off shoring all manufacturing was purposefully done to rob and then destroy America. The pain of returning American to a viable country will require standing strong against threats of war and retaliation as phony debt is repudiated. In that case we have a military ready to ensure the safety of our shores and peace in America.
Lastly, during the banker currency withdrawal period many Americans will suffer – withdrawing from toxins such as heroin or debt based currency abuse is not going to be painless. But to make it easier, all United States stocks of stored foods and emergency supplies (purchased with debt currency) should be distributed for charitable dispensing during the transition from debt currency to a debt free currency and competing currencies.
Further all large tracks of land held off the market and off limits by the Federal Government, and agents of the United Nations, should be homesteaded to the American people with special incentives for those planning farms and food creation uses of the land.
After 100 years, Americans are waking up, and those serving freedom and abhorring slavery have an unprecedented opportunity to be knowledgable about sophisticated slavery and, for once, the power to take immediate action against mankind’s enslavers.