Destruction of the US Dollar II by SignyM

Dear Bob,

Will we go into depression?

A: We are already in depression, that is, deflation and bankruptcies. But this may not be the big and final one, which I expect in a few short years. In the immediate future, 2009-10, I expect that the printing presses will give us another shot of economic morphine and we will have synthetic prosperity for a few years maybe.

After that, the crash of the current monetary regime, and a “New Order.”

Best Wishes,
Bob

http://www.personalliberty.com/signup-for-liberty-alerts/

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Tuesday, June 30, 2009 4:58 PM

ANTIMASON

Quote:
Originally posted by out2theblack:

Thirty years ago , I had occasion to speak with an xCia operative , who had left the company , concerning this very subject...

Even at that time , the NWO had commissioned a supercomputer , based in Belgium , to facilitate the working out of their scheme...

They called it , in a mocking joke , 'The Beast'.

Of course the machine has been upgraded through many iterations subsequently , and has become ever more capable and powerful...

Every time I see those IBM commercials ,'I'm an IBMmer' , and their 'teraflops' , I can't help but think of the unholy Alliance that continues toward their scheme of making 'a better world' ,

thats interesting.. almost ironic, in a manifest destiny sort of way(unless of course, its not coincidental). funny, i feel the same way when i see/hear the IBM ads.. all this about a "smarter tomorrow". well, the bible is impeccably accurate prophetically, as far as the OT goes, i cant help but be inclined to believe the same of the NT and system of 'the beast'

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Tuesday, July 21, 2009 4:11 PM

Bernanke speaks, the sheep eat it up

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Tuesday, July 21, 2009 4:34 PM

CHRISISALL

Quote:
Originally posted by Fremdfirma:
Quote:
Everywhere you look, economies are collapsing because of lack of consumers. It is an inherent weakness of capitalism: in its quest to reduce labor costs capitalism winds up starving its own consumers.

Ding Ding Ding!

We have a winner.

That's prettymuch it, in spades.

-F

I kinda understood this as a kid. Capitalism, at it's ultimate goal, was sorta like what they said the Rapture was in Sunday school.

The laughing Chrisisall

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Wednesday, August 5, 2009 8:30 PM

no more reform

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Thursday, August 6, 2009 5:41 PM

DREAMTROVE

Quote:

Interesting how this parallels the chart of US interest on the national debt. Given that, you can predict a future for the dollar:

I can't tell whether he's paying the bill or leaving a tip

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Saturday, August 8, 2009 7:14 AM

http://www.globalresearch.ca/index.php?context=va&aid=14680

Entering the Greatest Depression in History
More Bubbles Waiting to Burst

By Andrew Gavin Marshall

Global Research, August 7, 2009

Introduction

While there is much talk of a recovery on the horizon, commentators are forgetting some crucial aspects of the financial crisis. The crisis is not simply composed of one bubble, the housing real estate bubble, which has already burst. The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Indicators show that the next possible burst is the commercial real estate bubble. However, the main event on the horizon is the “bailout bubble” and the general world debt bubble, which will plunge the world into a Great Depression the likes of which have never before been seen.

Housing Crash Still Not Over

The housing real estate market, despite numbers indicating an upward trend, is still in trouble, as, “Houses are taking months to sell. Many buyers are having trouble getting financing as lenders and appraisers struggle to figure out what houses are really worth in the wake of the collapse.” Further, “the overall market remains very soft [...] aside from speculators and first-time buyers.” Dean Baker, co-director of the Center for Economic and Policy Research in Washington said, “It would be wrong to imagine that we have hit a turning point in the market,” as “There is still an enormous oversupply of housing, which means that the direction of house prices will almost certainly continue to be downward.” Foreclosures are still rising in many states “such as Nevada, Georgia and Utah, and economists say rising unemployment may push foreclosures higher into next year.” Clearly, the housing crisis is still not at an end.[1]

The Commercial Real Estate Bubble

In May, Bloomberg quoted Deutsche Bank CEO Josef Ackermann as saying, “It's either the beginning of the end or the end of the beginning.” Bloomberg further pointed out that, “A piece of the puzzle that must be calculated into any determination of the depth of our economic doldrums is the condition of commercial real estate -- the shopping malls, hotels, and office buildings that tend to go along with real- estate expansions.” Residential investment went down 28.9 % from 2006 to 2007, and at the same time, nonresidential investment grew 24.9%, thus, commercial real estate was “serving as a buffer against the declining housing market.”

Commercial real estate lags behind housing trends, and so too, will the crisis, as “commercial construction projects are losing their appeal.” Further, “there are lots of reasons to suspect that commercial real estate was subject to some of the loose lending practices that afflicted the residential market. The Office of the Comptroller of the Currency's Survey of Credit Underwriting Practices found that whereas in 2003 just 2 percent of banks were easing their underwriting standards on commercial construction loans, by 2006 almost a third of them were relaxing.” In May it was reported that, “Almost 80 percent of domestic banks are tightening their lending standards for commercial real-estate loans,” and that, “we may face double-bubble trouble for real estate and the economy.”[2]

In late July of 2009, it was reported that, “Commercial real estate’s decline is a significant issue facing the economy because it may result in more losses for the financial industry than residential real estate. This category includes apartment buildings, hotels, office towers, and shopping malls.” Worth noting is that, “As the economy has struggled, developers and landlords have had to rely on a helping hand from the US Federal Reserve in order to try to get credit flowing so that they can refinance existing buildings or even to complete partially constructed projects.” So again, the Fed is delaying the inevitable by providing more liquidity to an already inflated bubble. As the Financial Post pointed out, “From Vancouver to Manhattan, we are seeing rising office vacancies and declines in office rents.”[3]

In April of 2009, it was reported that, “Office vacancies in U.S. downtowns increased to 12.5 percent in the first quarter, the highest in three years, as companies cut jobs and new buildings came onto the market,” and, “Downtown office vacancies nationwide could come close to 15 percent by the end of this year, approaching the 10-year high of 15.5 percent in 2003.”[4]

In the same month it was reported that, “Strip malls, neighborhood centers and regional malls are losing stores at the fastest pace in at least a decade, as a spending slump forces retailers to trim down to stay afloat.” In the first quarter of 2009, retail tenants “have vacated 8.7 million square feet of commercial space,” which “exceeds the 8.6 million square feet of retail space that was vacated in all of 2008.” Further, as CNN reported, “vacancy rates at malls rose 9.5% in the first quarter, outpacing the 8.9% vacancy rate registered in all of 2008.” Of significance for those that think and claim the crisis will be over by 2010, “mall vacancies [are expected] to exceed historical levels through 2011,” as for retailers, “it's only going to get worse.”[5] Two days after the previous report, “General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on [April 16] in the biggest real estate failure in U.S. history.”[6]

In April, the Financial Times reported that, “Property prices in China are likely to halve over the next two years, a top government researcher has predicted in a powerful signal that the country’s economic downturn faces further challenges despite recent positive data.” This is of enormous significance, as “The property market, along with exports, were leading drivers of the booming Chinese economy over the past decade.” Further, “an apparent rebound in the property market was unsustainable over the medium term and being driven by a flood of liquidity and fraudulent activity rather than real demand.” A researcher at a leading Chinese government think tank reported that, “he expected average urban residential property prices to fall by 40 to 50 per cent over the next two years from their levels at the end of 2008.”[7]

In April, it was reported that, “The Federal Reserve is considering offering longer loans to investors in commercial mortgage-backed securities as part of a plan to help jump-start the market for commercial real estate debt.” Since February the Fed “has been analyzing appropriate terms and conditions for accepting commercial mortgage-backed securities (CMBS) and other mortgage assets as collateral for its Term Asset-Backed Securities Lending Facility (TALF).”[8]

In late July, the Financial Times reported that, “Two of America’s biggest banks, Morgan Stanley and Wells Fargo ... threw into sharp relief the mounting woes of the US commercial property market when they reported large losses and surging bad loan,” as “The disappointing second-quarter results for two of the largest lenders and investors in office, retail and industrial property across the US confirmed investors’ fears that commercial real estate would be the next front in the financial crisis after the collapse of the housing market.” The commercial property market, worth $6.7 trillion, “which accounts for more than 10 per cent of US gross domestic product, could be a significant hurdle on the road to recovery.”[9]

The Bailout Bubble

While the bailout, or the “stimulus package” as it is often referred to, is getting good coverage in terms of being portrayed as having revived the economy and is leading the way to the light at the end of the tunnel, key factors are again misrepresented in this situation.

At the end of March of 2009, Bloomberg reported that, “The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year.” This amount “works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.”[10]

Gerald Celente, the head of the Trends Research Institute, the major trend-forecasting agency in the world, wrote in May of 2009 of the “bailout bubble.” Celente’s forecasts are not to be taken lightly, as he accurately predicted the 1987 stock market crash, the fall of the Soviet Union, the 1998 Russian economic collapse, the 1997 East Asian economic crisis, the 2000 Dot-Com bubble burst, the 2001 recession, the start of a recession in 2007 and the housing market collapse of 2008, among other things.

On May 13, 2009, Celente released a Trend Alert, reporting that, “The biggest financial bubble in history is being inflated in plain sight,” and that, “This is the Mother of All Bubbles, and when it explodes [...] it will signal the end to the boom/bust cycle that has characterized economic activity throughout the developed world.” Further, “This is much bigger than the Dot-com and Real Estate bubbles which hit speculators, investors and financiers the hardest. However destructive the effects of these busts on employment, savings and productivity, the Free Market Capitalist framework was left intact. But when the 'Bailout Bubble' explodes, the system goes with it.”

Celente further explained that, “Phantom dollars, printed out of thin air, backed by nothing ... and producing next to nothing ... defines the ‘Bailout Bubble.’ Just as with the other bubbles, so too will this one burst. But unlike Dot-com and Real Estate, when the "Bailout Bubble" pops, neither the President nor the Federal Reserve will have the fiscal fixes or monetary policies available to inflate another.” Celente elaborated, “Given the pattern of governments to parlay egregious failures into mega-failures, the classic trend they follow, when all else fails, is to take their nation to war,” and that, “While we cannot pinpoint precisely when the 'Bailout Bubble' will burst, we are certain it will. When it does, it should be understood that a major war could follow.”[11]

However, this “bailout bubble” that Celente was referring to at the time was the $12.8 trillion reported by Bloomberg. As of July, estimates put this bubble at nearly double the previous estimate.

As the Financial Times reported in late July of 2009, while the Fed and Treasury hail the efforts and impact of the bailouts, “Neil Barofsky, special inspector-general for the troubled asset relief programme, [TARP] said that the various US schemes to shore up banks and restart lending exposed federal agencies to a risk of $23,700bn [$23.7 trillion] – a vast estimate that was immediately dismissed by the Treasury.” The inspector-general of the TARP program stated that there were “fundamental vulnerabilities . . . relating to conflicts of interest and collusion, transparency, performance measures, and anti-money laundering.”

Barofsky also reports on the “considerable stress” in commercial real estate, as “The Fed has begun to open up Talf to commercial mortgage-backed securities to try to influence credit conditions in the commercial real estate market. The report draws attention to a new potential credit crunch when $500bn worth of real estate mortgages need to be refinanced by the end of the year.” Ben Bernanke, the Chairman of the Fed, and Timothy Geithner, the Treasury Secretary and former President of the New York Fed, are seriously discussing extending TALF (Term Asset-Backed Securities Lending Facility) into “CMBS [Commercial Mortgage-Backed Securities] and other assets such as small business loans and whether to increase the size of the programme.” It is the “expansion of the various programmes into new and riskier asset classes is one of the main bones of contention between the Treasury and Mr Barofsky.”[12]

Testifying before Congress, Barofsky said, “From programs involving large capital infusions into hundreds of banks and other financial institutions, to a mortgage modification program designed to modify millions of mortgages, to public-private partnerships using tens of billions of taxpayer dollars to purchase 'toxic' assets from banks, TARP has evolved into a program of unprecedented scope, scale, and complexity.” He explained that, “The total potential federal government support could reach up to 23.7 trillion dollars.”[13]

Is a Future Bailout Possible?

In early July of 2009, billionaire investor Warren Buffet said that, “unemployment could hit 11 percent and a second stimulus package might be needed as the economy struggles to recover from recession,” and he further stated that, “we're not in a recovery.”[14] Also in early July, an economic adviser to President Obama stated that, “The United States should be planning for a possible second round of fiscal stimulus to further prop up the economy.”[15]

In August of 2009, it was reported that, “THE Obama administration will consider dishing out more money to rein in unemployment despite signs the recession is ending,” and that, “Treasury secretary Tim Geithner also conceded tax hikes could be on the agenda as the government worked to bring its huge recovery-related deficits under control.” Geithner said, “we will do what it takes,” and that, “more federal cash could be tipped into the recovery as unemployment benefits amid projections the benefits extended to 1.5 million jobless Americans will expire without Congress' intervention.” However, any future injection of money could be viewed as “a second stimulus package.”[16]

The Washington Post reported in early July of a Treasury Department initiative known as “Plan C.” The Plan C team was assembled “to examine what could yet bring [the economy] down and has identified several trouble spots that could threaten the still-fragile lending industry,” and “the internal project is focused on vexing problems such as the distressed commercial real estate markets, the high rate of delinquencies among homeowners, and the struggles of community and regional banks.”

Further, “The team is also responsible for considering potential government responses, but top officials within the Obama administration are wary of rolling out initiatives that would commit massive amounts of federal resources.” The article elaborated in saying that, “The creation of Plan C is a sign that the government has moved into a new phase of its response, acting preemptively rather than reacting to emerging crises.” In particular, the near-term challenge they are facing is commercial real estate lending, as “Banks and other firms that provided such loans in the past have sharply curtailed lending,” leaving “many developers and construction companies out in the cold.” Within the next couple years, “these groups face a tidal wave of commercial real estate debt -- some estimates peg the total at more than $3 trillion -- that they will need to refinance. These loans were issued during this decade's construction boom with the mistaken expectation that they would be refinanced on the same generous terms after a few years.”

However, as a result of the credit crisis, “few developers can find anyone to refinance their debt, endangering healthy and distressed properties.” Kim Diamond, a managing director at Standard & Poor's, stated that, “It's not a degree to which people are willing to lend,” but rather, “The question is whether a loan can be made at all.” Important to note is that, “Financial analysts said losses on commercial real estate loans are now the single largest cause of bank failures,” and that none of the bailout efforts enacted “is big enough to address the size of the problem.”[17]

So the question must be asked: what is Plan C contemplating in terms of a possible government “solution”? Another bailout? The effect that this would have would be to further inflate the already monumental bailout bubble.

The Great European Bubble

In October of 2008, Germany and France led a European Union bailout of 1 trillion Euros, and “World markets initially soared as European governments pumped billions into crippled banks. Central banks in Europe also mounted a new offensive to restart lending by supplying unlimited amounts of dollars to commercial banks in a joint operation.”[18]

The American bailouts even went to European banks, as it was reported in March of 2009 that, “European banks declined to discuss a report that they were beneficiaries of the $173 billion bail-out of insurer AIG,” as “Goldman Sachs, Morgan Stanley and a host of other U.S. and European banks had been paid roughly $50 billion since the Federal Reserve first extended aid to AIG.” Among the European banks, “French banks Societe Generale and Calyon on Sunday declined to comment on the story, as did Deutsche Bank, Britain's Barclays and unlisted Dutch group Rabobank.” Other banks that got money from the US bailout include HSBC, Wachovia, Merrill Lynch, Banco Santander and Royal Bank of Scotland. Because AIG was essentially insolvent, “the bailout enabled AIG to pay its counterparty banks for extra collateral,” with “Goldman Sachs and Deutsche bank each receiving $6 billion in payments between mid-September and December.”[19]

In April of 2009, it was reported that, “EU governments have committed 3 trillion Euros [or $4 trillion dollars] to bail out banks with guarantees or cash injections in the wake of the global financial crisis, the European Commission.”[20]

In early February of 2009, the Telegraph published a story with a startling headline, “European banks may need 16.3 trillion pound bail-out, EC document warns.” Type this headline into google, and the link to the Telegraph appears. However, click on the link, and the title has changed to “European bank bail-out could push EU into crisis.” Further, they removed any mention of the amount of money that may be required for a bank bailout. The amount in dollars, however, nears $25 trillion. The amount is the cumulative total of the troubled assets on bank balance sheets, a staggering number derived from the derivatives trade.

The Telegraph reported that, “National leaders and EU officials share fears that a second bank bail-out in Europe will raise government borrowing at a time when investors - particularly those who lend money to European governments - have growing doubts over the ability of countries such as Spain, Greece, Portugal, Ireland, Italy and Britain to pay it back.”[21]

When Eastern European countries were in desperate need of financial aid, and discussion was heated on the possibility of an EU bailout of Eastern Europe, the EU, at the behest of Angela Merkel of Germany, denied the East European bailout. However, this was more a public relations stunt than an actual policy position.

While the EU refused money to Eastern Europe in the form of a bailout, in late March European leaders “doubled the emergency funding for the fragile economies of central and eastern Europe and pledged to deliver another doubling of International Monetary Fund lending facilities by putting up 75bn Euros (70bn pounds).” EU leaders “agreed to increase funding for balance of payments support available for mainly eastern European member states from 25bn Euros to 50bn Euros.”[22]

As explained in a Times article in June of 2009, Germany has been deceitful in its public stance versus its actual policy decisions. The article, worth quoting in large part, first explained that:

Europe is now in the middle of a perfect storm - a confluence of three separate, but interconnected economic crises which threaten far greater devastation than Britain or America have suffered from the credit crunch: the collapse of German industry and employment, the impending bankruptcy of Central European homeowners and businesses; and the threat of government debt defaults from loss of monetary control by the Irish Republic, Greece and Portugal, for instance on the eurozone periphery.

Taking the case of Latvia, the author asks, “If the crisis expands, other EU governments - and especially Germany's - will face an existential question. Do they commit hundreds of billions of euros to guarantee the debts of fellow EU countries? Or do they allow government defaults and devaluations that may ultimately break up the single currency and further cripple German industry, as well as the country's domestic banks?” While addressing that, “Publicly, German politicians have insisted that any bailouts or guarantees are out of the question,” however, “the pass has been quietly sold in Brussels, while politicians loudly protested their unshakeable commitment to defend it.”

The author addressed how in October of 2008:

[...] a previously unused regulation was discovered, allowing the creation of a 25 billion Euros “balance of payments facility” and authorising the EU to borrow substantial sums under its own “legal personality” for the first time. This facility was doubled again to 50 billion Euros in March. If Latvia's financial problems turn into a full-scale crisis, these guarantees and cross-subsidies between EU governments will increase to hundreds of billions in the months ahead and will certainly mutate into large-scale centralised EU borrowing, jointly guaranteed by all the taxpayers of the EU.

[...] The new EU borrowing, for example, is legally an ‘off-budget’ and ‘back-to-back’ arrangement, which allows Germany to maintain the legal fiction that it is not guaranteeing the debts of Latvia et al. The EU's bond prospectus to investors, however, makes quite clear where the financial burden truly lies: “From an investor's point of view the bond is fully guaranteed by the EU budget and, ultimately, by the EU Member States.”[23]

So Eastern Europe is getting, or presumably will get bailed out. Whether this is in the form of EU federalism, providing loans of its own accord, paid for by European taxpayers, or through the IMF, which will attach any loans with its stringent Structural Adjustment Program (SAP) conditionalities, or both. It turned out that the joint partnership of the IMF and EU is what provided the loans and continues to provide such loans.

As the Financial Times pointed out in August of 2009, “Bank failures or plunging currencies in the three Baltic nations – Latvia, Lithuania and Estonia – could threaten the fragile prospect of recovery in the rest of Europe. These countries also sit on one of the world’s most sensitive political fault-lines. They are the European Union’s frontier states, bordering Russia.” In July, Latvia “agreed its second loan in eight months from the IMF and the EU,” following the first one in December. Lithuania is reported to be following suit. However, as the Financial Times noted, the loans came with the IMF conditionalities: “The injection of cash is the good news. The bad news is that, in return for shoring up state finances, the new IMF deal will require the Latvian government to impose yet more pain on its suffering population. Public-sector wages have already been cut by about a third this year. Pensions have been sliced. Now the IMF requires Latvia to cut another 10 per cent from the state budget this autumn.”[24]

If we are to believe the brief Telegraph report pertaining to nearly $25 trillion in bad bank assets, which was removed from the original article for undisclosed reasons, not citing a factual retraction, the question is, does this potential bailout still stand? These banks haven’t been rescued financially from the EU, so, presumably, these bad assets are still sitting on the bank balance sheets. This bubble has yet to blow. Combine this with the $23.7 trillion US bailout bubble, and there is nearly $50 trillion between the EU and the US waiting to burst.

An Oil Bubble

In early July of 2009, the New York Times reported that, “The extreme volatility that has gripped oil markets for the last 18 months has shown no signs of slowing down, with oil prices more than doubling since the beginning of the year despite an exceptionally weak economy.” Instability in the oil and gas prices has led many to “fear it could jeopardize a global recovery.” Further, “It is also hobbling businesses and consumers,” as “A wild run on the oil markets has occurred in the last 12 months.” Oil prices reached a record high last summer at $145/barrel, and with the economic crisis they fell to $33/barrel in December. However, since the start of 2009, oil has risen 55% to $70/barrel.

As the Times article points out, “the recent rise in oil prices is reprising the debate from last year over the role of investors — or speculators — in the commodity markets.” Energy officials from the EU and OPEC met in June and concluded that, “the speculation issue had not been resolved yet and that the 2008 bubble could be repeated.”[25]

In June of 2009, Hedge Fund manager Michael Masters told the US Senate that, “Congress has not done enough to curb excessive speculation in the oil markets, leaving the country vulnerable to another price run-up in 2009.” He explained that, “oil prices are largely not determined by supply and demand but the trading desks of large Wall Street firms.” Because “Nothing was actually done by Congress to put an end to the problem of excessive speculation” in 2008, Masters explained, “there is nothing to prevent another bubble in oil prices in 2009. In fact, signs of another possible bubble are already beginning to appear.”[26]

In May of 2008, Goldman Sachs warned that oil could reach as much as $200/barrel within the next 12-24 months [up to May 2010]. Interestingly, “Goldman Sachs is one of the largest Wall Street investment banks trading oil and it could profit from an increase in prices.”[27] However, this is missing the key point. Not only would Goldman Sachs profit, but Goldman Sachs plays a major role in sending oil prices up in the first place.

As Ed Wallace pointed out in an article in Business Week in May of 2008, Goldman Sachs’ report placed the blame for such price hikes on “soaring demand” from China and the Middle East, combined with the contention that the Middle East has or would soon peak in its oil reserves. Wallace pointed out that:

Goldman Sachs was one of the founding partners of online commodities and futures marketplace Intercontinental Exchange (ICE). And ICE has been a primary focus of recent congressional investigations; it was named both in the Senate's Permanent Subcommittee on Investigations' June 27, 2006, Staff Report and in the House Committee on Energy & Commerce's hearing last December. Those investigations looked into the unregulated trading in energy futures, and both concluded that energy prices' climb to stratospheric heights has been driven by the billions of dollars' worth of oil and natural gas futures contracts being placed on the ICE—which is not regulated by the Commodities Futures Trading Commission.[28]

Essentially, Goldman Sachs is one of the key speculators in the oil market, and thus, plays a major role in driving oil prices up on speculation. This must be reconsidered in light of the resurgent rise in oil prices in 2009. In July of 2009, “Goldman Sachs Group Inc. posted record earnings as revenue from trading and stock underwriting reached all-time highs less than a year after the firm took $10 billion in U.S. rescue funds.”[29] Could one be related to the other?

Bailouts Used in Speculation

In November of 2008, the Chinese government injected an “$849 billion stimulus package aimed at keeping the emerging economic superpower growing.”[30] China then recorded a rebound in the growth rate of the economy, and underwent a stock market boom. However, as the Wall Street Journal pointed out in July of 2009, “Its growth is now fuelled by cheap debt rather than corporate profits and retained earnings, and this shift in the medium term threatens to undermine China’s economic decoupling from the global slump.” Further, “overseas money has been piling into China, inflating foreign exchange reserves and domestic liquidity. So perhaps it is not surprising that outstanding bank loans have doubled in the last few years, or that there is much talk of a shadow banking system. Then there is China’s reputation for building overcapacity in its industrial sector, a notoriety it won even before the crash in global demand. This showed a disregard for returns that is always a tell-tale sign of cheap money.”

China’s economy primarily relies upon the United States as a consumption market for its cheap products. However, “The slowdown in U.S. consumption amid a credit crunch has exposed the weaknesses in this export-led financing model. So now China is turning instead to cheap debt for funding, a shift suggested by this year’s 35% or so rise in bank loans.”[31]

In August of 2009, it was reported that China is experiencing a “stimulus-fueled stock market boom.” However, this has caused many leaders to “worry that too much of the $1-trillion lending binge by state banks that paid for China's nascent revival was diverted into stocks and real estate, raising the danger of a boom and bust cycle and higher inflation less than two years after an earlier stock market bubble burst.”[32]

The same reasoning needs to be applied to the US stock market surge. Something is inherently and structurally wrong with a financial system in which nothing is being produced, 600,000 jobs are lost monthly, and yet, the stock market goes up. Why is the stock market going up?

The Troubled Asset Relief Program (TARP), which provided $700 billion in bank bailouts, started under Bush and expanded under Obama, entails that the US Treasury purchases $700 billion worth of “troubled assets” from banks, and in turn, “that banks cannot be asked to account for their use of taxpayer money.”[33]

So if banks don’t have to account for where the money goes, where did it go? They claim it went back into lending. However, bank lending continues to go down.[34] Stock market speculation is the likely answer. Why else would stocks go up, lending continue downwards, and the bailout money be unaccounted for?

What Does the Bank for International Settlements (BIS) Have to Say?

In late June, the Bank for International Settlements (BIS), the central bank of the world’s central banks, the most prestigious and powerful financial organization in the world, delivered an important warning. It stated that, “fiscal stimulus packages may provide no more than a temporary boost to growth, and be followed by an extended period of economic stagnation.”

The BIS, “The only international body to correctly predict the financial crisis ... has warned the biggest risk is that governments might be forced by world bond investors to abandon their stimulus packages, and instead slash spending while lifting taxes and interest rates,” as the annual report of the BIS “has for the past three years been warning of the dangers of a repeat of the depression.” Further, “Its latest annual report warned that countries such as Australia faced the possibility of a run on the currency, which would force interest rates to rise.” The BIS warned that, “a temporary respite may make it more difficult for authorities to take the actions that are necessary, if unpopular, to restore the health of the financial system, and may thus ultimately prolong the period of slow growth.”

Of immense import is the BIS warning that, “At the same time, government guarantees and asset insurance have exposed taxpayers to potentially large losses,” and explaining how fiscal packages posed significant risks, it said that, “There is a danger that fiscal policy-makers will exhaust their debt capacity before finishing the costly job of repairing the financial system,” and that, “There is the definite possibility that stimulus programs will drive up real interest rates and inflation expectations.” Inflation “would intensify as the downturn abated,” and the BIS “expressed doubt about the bank rescue package adopted in the US.”[35]

The BIS further warned of inflation, saying that, “The big and justifiable worry is that, before it can be reversed, the dramatic easing in monetary policy will translate into growth in the broader monetary and credit aggregates,” the BIS said. That will “lead to inflation that feeds inflation expectations or it may fuel yet another asset-price bubble, sowing the seeds of the next financial boom-bust cycle.”[36]

Major investors have also been warning about the dangers of inflation. Legendary investor Jim Rogers has warned of “a massive inflation holocaust.”[37] Investor Marc Faber has warned that, “The U.S. economy will enter ‘hyperinflation’ approaching the levels in Zimbabwe,” and he stated that he is “100 percent sure that the U.S. will go into hyperinflation.” Further, “The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.”[38]

Are We Entering A New Great Depression?

In 2007, it was reported that, “The Bank for International Settlements, the world's most prestigious financial body, has warned that years of loose monetary policy has fuelled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood.” Further:

The BIS, the ultimate bank of central bankers, pointed to a confluence a worrying signs, citing mass issuance of new-fangled credit instruments, soaring levels of household debt, extreme appetite for risk shown by investors, and entrenched imbalances in the world currency system.

[...] In a thinly-veiled rebuke to the US Federal Reserve, the BIS said central banks were starting to doubt the wisdom of letting asset bubbles build up on the assumption that they could safely be "cleaned up" afterwards - which was more or less the strategy pursued by former Fed chief Alan Greenspan after the dotcom bust.[39]

In 2008, the BIS again warned of the potential of another Great Depression, as “complex credit instruments, a strong appetite for risk, rising levels of household debt and long-term imbalances in the world currency system, all form part of the loose monetarist policy that could result in another Great Depression.”[40]

In 2008, the BIS also said that, “The current market turmoil is without precedent in the postwar period. With a significant risk of recession in the US, compounded by sharply rising inflation in many countries, fears are building that the global economy might be at some kind of tipping point,” and that all central banks have done “has been to put off the day of reckoning.”[41]

In late June of 2009, the BIS reported that as a result of stimulus packages, it has only seen “limited progress” and that, “the prospects for growth are at risk,” and further “stimulus measures won't be able to gain traction, and may only lead to a temporary pickup in growth.” Ultimately, “A fleeting recovery could well make matters worse.”[42]

The BIS has said, in softened language, that the stimulus packages are ultimately going to cause more damage than they prevented, simply delaying the inevitable and making the inevitable that much worse. Given the previous BIS warnings of a Great Depression, the stimulus packages around the world have simply delayed the coming depression, and by adding significant numbers to the massive debt bubbles of the world’s nations, will ultimately make the depression worse than had governments not injected massive amounts of money into the economy.

After the last Great Depression, Keynesian economists emerged victorious in proposing that a nation must spend its way out of crisis. This time around, they will be proven wrong. The world is a very different place now. Loose credit, easy spending and massive debt is what has led the world to the current economic crisis, spending is not the way out. The world has been functioning on a debt based global economy. This debt based monetary system, controlled and operated by the global central banking system, of which the apex is the Bank for International Settlements, is unsustainable. This is the real bubble, the debt bubble. When it bursts, and it will burst, the world will enter into the Greatest Depression in world history.

Notes

[1] Barrie McKenna, End of housing slump? Try telling that to buyers, sellers and the unemployed. The Globe and Mail: August 6, 2009:
http://www.theglobeandmail.com/report-on-business/end-of-housing-slump
-try-telling-that-to-buyers-sellers-and-the-unemployed/article1240418/

[2] Gene Sperling, Double-Bubble Trouble in Commercial Real Estate: Gene Sperling. Bloomberg: May 9, 2009:
http://www.bloomberg.com/apps/news?pid=20601110&sid=a.X91SkgOd8g

[3] AL Sull, Commercial Real Estate - The Other Real Estate Bubble. Financial Post: July 23, 2009:
http://network.nationalpost.com/np/blogs/fpmagazinedaily/archive/2009/
07/23/commercial-real-estate-the-other-real-estate-bubble.aspx

[4] Hui-yong Yu, U.S. Office Vacancies Rise to Three-Year High, Cushman Says. Bloomberg: April 16, 2009:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aegH6dXG8H8U

[5] Parija B. Kavilanz, Malls shedding stores at record pace. CNN Money: April 14, 2009:
http://money.cnn.com/2009/04/10/news/economy/retail_malls/index.htm

[6] Ilaina Jonas and Emily Chasan, General Growth files largest U.S. real estate bankruptcy. Reuters: April 16, 2009:
http://www.reuters.com/article/businessNews/idUSTRE53F68P20090417

[7] Jamil Anderlini, China property prices ‘likely to halve’. The Financial Times: April 13, 2009:
http://www.ft.com/cms/s/0/9a36b342-280e-11de-8dbf-00144feabdc0.html

[8] Reuters, Fed Might Extend TALF Support to Five Years. Money News: April 17, 2009:
http://moneynews.newsmax.com/financenews/talf/2009/04/17/204120.html?u
tm_medium=RSS

[9] Francesco Guerrera and Greg Farrell, US banks warn on commercial property. The Financial Times: July 22, 2009:
http://www.ft.com/cms/s/0/3a1e9d86-76eb-11de-b23c-00144feabdc0.html

[10] Mark Pittman and Bob Ivry, Financial Rescue Nears GDP as Pledges Top $12.8 Trillion. Bloomberg: March 31, 2009:
http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4

[11] Gerald Celente, The "Bailout Bubble" - The Bubble to End All Bubbles. Trends Research Institute: May 13, 2009:
http://geraldcelentechannel.blogspot.com/2009/05/gerald-celente-bubble
-to-end-all.html

[12] Tom Braithwaite, Treasury clashes with Tarp watchdog on data. The Financial Times: July 20, 2009:
http://www.ft.com/cms/s/0/ab533a38-757a-11de-9ed5-00144feabdc0.html

[13] AFP, US could spend 23.7 trillion dollars on crisis: report. Agence-France Presse: July 20, 2009:
http://www.google.com/hostednews/afp/article/ALeqM5iuL1HParBuO4WyHJIxw
6rlOKdz-A

[14] John Whitesides, Warren Buffett says second stimulus might be needed. Reuters: July 9, 2009:
http://www.reuters.com/article/pressReleasesMolt/idUSTRE5683MZ20090709

[15] Vidya Ranganathan, U.S. should plan 2nd fiscal stimulus: economic adviser. Reuters: July 7, 2009:
http://www.reuters.com/article/newsOne/idUSTRE56611D20090707

[16] Carly Crawford, US may increase stimulus payments to rein in unemployment. The Herald Sun: August 3, 2009:
http://www.news.com.au/heraldsun/story/0,21985,25873672-664,00.html

[17] David Cho and Binyamin Appelbaum, Treasury Works on 'Plan C' To Fend Off Lingering Threats. The Washington Post: July 8, 2009:
http://www.washingtonpost.com/wp-dyn/content/article/2009/07/07/AR2009
070702631.html?hpid=topnews

[18] Charles Bremner and David Charter, Germany and France lead €1 trillion European bailout. Times Online: October 13, 2009:
http://business.timesonline.co.uk/tol/business/industry_sectors/bankin
g_and_finance/article4937516.ece

[19] Douwe Miedema, Europe banks silent on reported AIG bailout gains. Reuters: March 8, 2009:
http://www.reuters.com/article/topNews/idUSTRE5270YD20090308

[20] Elitsa Vucheva, European Bank Bailout Total: $4 Trillion. Business Week: April 10, 2009:
http://www.businessweek.com/globalbiz/content/apr2009/gb20090410_25473
8.htm?chan=globalbiz_europe+index+page_top+stories

[21] Bruno Waterfield, European bank bail-out could push EU into crisis. The Telegraph: February 11, 2009:
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/45905
12/European-banks-may-need-16.3-trillion-bail-out-EC-dcoument-warns.html

[22] Ian Traynor, EU doubles funding for fragile eastern European economies. The Guardian: March 20, 2009:
http://www.guardian.co.uk/world/2009/mar/20/eu-imf-emergency-funding

[23] Anatole Kaletsky, The great bailout - Europe's best-kept secret. The Times Online: June 4, 2009:
http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/a
rticle6426565.ece

[24] Gideon Rachman, Europe prepares for a Baltic blast. The Financial Times: August 3, 2009:
http://www.ft.com/cms/s/0/b497f5b6-8060-11de-bf04-00144feabdc0.html

[25] JAD MOUAWAD, Swings in Price of Oil Hobble Forecasting. The New York Times: July 5, 2009:
http://www.nytimes.com/2009/07/06/business/06oil.html

[26] Christopher Doering, Masters says signs of oil bubble starting to appear. Reuters: June 4, 2009:
http://www.reuters.com/article/Inspiration/idUSTRE55355620090604

[27] Javier Blas and Chris Flood, Analyst warns of oil at $200 a barrel. The Financial Times: May 6, 2008:
http://us.ft.com/ftgateway/superpage.ft?news_id=fto050620081414392593

[28] Ed Wallace, The Reason for High Oil Prices. Business Week: May 13, 2009:
http://www.businessweek.com/lifestyle/content/may2008/bw20080513_72017
8.htm

[29] Christine Harper, Goldman Sachs Posts Record Profit, Beating Estimates. Bloomberg: July 14, 2009:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2jo3RK2_Aps

[30] Peter Martin and John Garnaut, The great China bailout. The Age: November 11, 2008:
http://business.theage.com.au/business/the-great-china-bailout-2008111
0-5lpe.html

[31] Paul Cavey, Now China Has a Credit Boom. The Wall Street Journal: July 30, 2009:
http://online.wsj.com/article/SB10001424052970204619004574319261337617
196.html

[32] Joe McDonald, China's stimulus-fueled stock boom alarms Beijing. The Globe and Mail: August 2, 2009:
http://www.globeinvestor.com/servlet/story/RTGAM.20090802.wchina02/GIS
tory/

[33] Matt Jaffe, Watchdog Refutes Treasury Claim Banks Cannot Be Asked to Account for Bailout Cash. ABC News: July 19, 2009:
http://abcnews.go.com/Business/Politics/story?id=8121045&page=1

[34] The China Post, Bank lending slows down in U.S.: report. The China Post: July 28, 2009:
http://www.chinapost.com.tw/business/americas/2009/07/28/218141/Bank-l
ending.htm

[35] David Uren. Bank for International Settlements warning over stimulus benefits. The Australian: June 30, 2009:
http://www.theaustralian.news.com.au/story/0,,25710566-601,00.html

[36] Simone Meier, BIS Sees Risk Central Banks Will Raise Interest Rates Too Late. Bloomberg: June 29, 2009:
http://www.bloomberg.com/apps/news?pid=20601068&sid=aOnSy9jXFKaY

[37] CNBC.com, We Are Facing an 'Inflation Holocaust': Jim Rogers. CNBC: October 10, 2008:
http://www.cnbc.com/id/27097823

[38] Chen Shiyin and Bernard Lo, U.S. Inflation to Approach Zimbabwe Level, Faber Says. Bloomberg: May 27, 2009:
http://www.bloomberg.com/apps/news?pid=20601110&sid=avgZDYM6mTFA

[39] Ambrose Evans-Pritchard, BIS warns of Great Depression dangers from credit spree. The Telegraph: June 27, 2009:
http://www.telegraph.co.uk/finance/economics/2811081/BIS-warns-of-Grea
t-Depression-dangers-from-credit-spree.html

[40] Gill Montia, Central bank body warns of Great Depression. Banking Times: June 9, 2008:
http://www.bankingtimes.co.uk/09062008-central-bank-body-warns-of-grea
t-depression/

[41] Ambrose Evans-Pritchard, BIS slams central banks, warns of worse crunch to come. The Telegraph: June 30, 2008:
http://www.telegraph.co.uk/finance/markets/2792450/BIS-slams-central-b
anks-warns-of-worse-crunch-to-come.html

[42] HEATHER SCOFFIELD, Financial repairs must continue: central banks. The Globe and Mail: June 29, 2009:
http://v1.theglobeandmail.com/servlet/story/RTGAM.20090629.wcentralban
ks0629/BNStory/HEATHER+SCOFFIELD/

Andrew Gavin Marshall is a Research Associate with the Centre for Research on Globalization (CRG). He is currently studying Political Economy and History at Simon Fraser University.

--------------------------------------------------------------------------------

Disclaimer: The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of the Centre for Research on Globalization. The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible or liable for any inaccurate or incorrect statements contained in this article.

To become a Member of Global Research

The CRG grants permission to cross-post original Global Research articles on community internet sites as long as the text & title are not modified. The source and the author's copyright must be displayed. For publication of Global Research articles in print or other forms including commercial internet sites, contact: crgeditor@yahoo.com

www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.

For media inquiries: crgeditor@yahoo.com

© Copyright Andrew Gavin Marshall, Global Research, 2009

The url address of this article is: www.globalresearch.ca/PrintArticle.php?articleId=14680

--------------------------------------------------------------------------------

© Copyright 2005-2007 GlobalResearch.ca
Web site engine by Polygraphx Multimedia © Copyright 2005-2007

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Saturday, August 8, 2009 11:23 AM

"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)

Wow, all that work, all that research, and you STILL haven't found one single shred of evidence to back up your ASSertion that I or anyone else has ever tried to have you "banned" from this board.

And just like that - *POOF!* - he's gone...

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 1:19 AM

Not to worry...We'll ALL be banned soon enough , thanks to yer Uncle ScamBO...

http://www.motherjones.com/politics/2009/04/should-obama-control-inter
net

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 2:03 AM

Quote:
Originally posted by out2theblack:
Not to worry...We'll ALL be banned soon enough , thanks to yer Uncle ScamBO...

Nice dodge, but that still has NOTHING to do with your lies about anyone trying to have YOU banned from this site, does it?

Are you still too much a coward to admit that you were lying?

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 2:14 AM

Quote:
Originally posted by Kwicko:
Quote:
Originally posted by out2theblack:
Not to worry...We'll ALL be banned soon enough , thanks to yer Uncle ScamBO...

Nice dodge, but that still has NOTHING to do with your lies about anyone trying to have YOU banned from this site, does it?

Are you still too much a coward to admit that you were lying?

Not a dodge , just more truth-telling .

Are you still too much of a coward to admit you were taken in by a diversion , Jedi mind-trick , and you've spent a couple weeks with that little red herring swimming around in that soup that passes for your brain...? ? ?

What a frickin' petulant MORON you are !
( Apologies to the F-P-M community ! )

Snickering up my sleeve !

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 2:18 AM

Not to worry...We'll ALL be banned soon enough , thanks to yer Uncle ScamBO...

http://www.motherjones.com/politics/2009/04/should-obama-control-inter
net

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 2:21 AM

Quote:
Originally posted by out2theblack:
Quote:
Originally posted by Kwicko:
Quote:
Originally posted by out2theblack:
Not to worry...We'll ALL be banned soon enough , thanks to yer Uncle ScamBO...

Nice dodge, but that still has NOTHING to do with your lies about anyone trying to have YOU banned from this site, does it?

Are you still too much a coward to admit that you were lying?

Not a dodge , just more truth-telling .

Are you still too much of a coward to admit you were taken in by a diversion , Jedi mind-trick , and you've spent a couple weeks with that little red herring swimming around in that soup that passes for your brain...? ? ?

What a frickin' petualant MORON you are !

Snickering up my sleeve !

Two weeks to think up an excuse, two weeks of running away every single time I've mentioned it, and THAT is the best you can come up with?

Oh, and by the way, you misspelled "petulant", you lying moron. THAT oughta make you look extra-smart, eh?

As for your "mind-trick" - I've been here participating in discussions; where have YOU been? Every time I've brought up your lies, you've run away and hid. Seems like the only Jedi in this argument is the one you're hiding from! Run away now, little coward. Go back to your mom's basement or under your bridge.

Mike

Sweeping generalizations are always wrong!

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 2:26 AM

For the record, THIS is what Out2Lunch considers "truth":

Quote:
Posted by Out2theBlack on Monday, July 27, 2009:

Originally posted by out2theblack:

The reason to have a 'republic' is to prevent the tyranny of public opinion from outstripping reasoned dialogue...

Sort of like , here in RWED , the tyranny of sickynym-ruetard-squicko attempting to shout down the small voices of dissent , and seeking to have folk with which thay disagree 'banned' , allowed no voice at all...

Their kind are those who want to refute the so-called 'birthers' by screaming 'birth certificate !' , which is actually the same tactic they employed at the outset , with little in the way of facts being brought to the fore by their side subsequently...

See, THAT is a 100% lie, an utter fabrication, and a slur. I've called you on it, repeatedly, and you refuse to address the issue. You've lied about me and my character, and then you run away and hide, repeatedly.

So tell me again why anyone should ever take you seriously?

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 4:16 AM

Quote:
Originally posted by Kwicko:
...Oh, and by the way, you misspelled "petulant", you lying moron. THAT oughta make you look extra-smart, eh?

As for your "mind-trick" - I've been here participating in discussions; where have YOU been? Every time I've brought up your lies, you've run away and hid.

Mike

I didn't misspell anything...Cheap-ass phony edit-mod. Run away and hid ? From you ?

You must think that, like yourself , 'other folk' don't actually have ' a life '.

That's evidence of the self-important prig that you really are , imagining that someone must be at your beck-and-call every time you whine...

Were it not for yo' mammy , you truly would be a 'self-made' man...

You're not REALLY an atheist...You're just another self-made sociopath worshipping your 'Creator'. On your knees , boy ! Get in front of that mirror , Narcissus !

Were it not for 'bad' character , you'd have none at all ! Weak-minded slobbering mouth-breather !

...No wonder it's so easy to get into firing position and start pouring chunks of hot depleted uranium into your engine...You've got target fixation , can't take your eyes from the mirror in your whacko(ff) room...

Once again , you've made my point for me...

It's even more flattering that you quoted me to do so :

'...Their kind are those who want to refute the so-called 'birthers' by screaming 'birth certificate !' , which is actually the same tactic they employed at the outset , with little in the way of facts being brought to the fore by their side subsequently...'

So , what have the O-bots brought , in about the last 9-10 months ?

Phony cries of 'racism' ? Puh-leeze , if that's the best the O-team can do , pack it in...You punk-ass chumps are already thrashed...

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 4:23 AM

Not to worry...We'll ALL be banned soon enough , thanks to yer Uncle ScamBO...

http://www.motherjones.com/politics/2009/04/should-obama-control-inter
net

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 4:29 AM

Quote:
Originally posted by Kwicko:
Wow, all that work, all that research, and you STILL haven't found one single shred of evidence to back up your ASSertion that I or anyone else has ever tried to have you "banned" from this board.

And just like that - *POOF!* - he's gone...

No , Squick , I'm back...

More facts , on subject , that you can't digest...In fact , a Full Page of Linked Articles about the global war against the Sovereignty of the United States , and the 'conspiracy theory' making possible the permanent econ-bomb siege :

http://www.globalresearch.ca/index.php?context=va&aid=14697

Here's a small sample preview :

'...Salbuchi begins a series of videos with some specific ideas, proposals and suggestions regarding what each of us CAN DO to fight the coming World Government, irrespective of where you are, what your work is, and what your resources - large or small - may be.

All Journeys begin with the First Step. For us, that First Step is to become AWARE that the One-Worldlers promoting WORLD GOVERNMENT are the Enemies of all of us: the Enemies of Mankind.
As such they must be fought, neutralized and overcome...'

YouTube VIDEO :

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 6:11 AM

Quote:

I didn't misspell anything...Cheap-ass phony edit-mod. Run away and hid ? From you ?

You did misspell it, and then you went back and changed it after I pointed it out. And you got caught lying, again.

Tell us all, where's all that evidence of me trying to get you banned, huh? Of the two of us, which one has been caught lying and been called on it repeatedly, and been too much of a chickenshit to own up to it.

That'd be you.

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 6:51 AM

So tell me, O great "truth-teller" (HAH! That's a good one!)...

Were these or were these not your words?

Quote:
Originally posted by out2theblack:

The reason to have a 'republic' is to prevent the tyranny of public opinion from outstripping reasoned dialogue...

Sort of like , here in RWED , the tyranny of sickynym-ruetard-squicko attempting to shout down the small voices of dissent , and seeking to have folk with which thay [sic] disagree 'banned' , allowed no voice at all...

Or are you going to accuse me of going back and changing THAT quote, too?

C'mon, OutOfYourHead - your credibility is on the line! Quick, boy! Think of something! Go back and clean up all your old posts, and hope that I don't have the screenshots of them already stashed away!

You're a liar, a coward, and now you've proven beyond any doubt that you're just a sad, desperate, pathetic loser.

Mike

Sweeping generalizations are always wrong!

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 7:27 AM

Quote:
Originally posted by Kwicko:
Sort of like , here in RWED , the tyranny of sickynym-ruetard-squicko attempting to shout down the small voices of dissent , and seeking to have folk with which they disagree 'banned' , allowed no voice at all...

So now , you change folks' posts in edit , just like you change thread titles ?

It IS EXACTLY like I said :"...the tyranny of sickynym-ruetard-squicko attempting to shout down the small voices of dissent..."

Desperate liar ? Yes , that'd be you...

Folk here know that I'm not typically in the habit of misspelling words...But , they also know that you are a hot-headed trigger-happy psychopath , Babies & Bayonets Brigade mofo...

By the way Squick , how do YOU spell @SSh0le-retentive , and do you hyphenate that , like you do your ScamBO AFRO-pRESIDENT ? You know , the guy you gave the money , campaigned and voted for , who also wants to throw the big Odumba-Bongo OFF switch on to the Internet , to silence dissent in the event of a 'National Emergency' ?

Can't leave it be , gotta stir the pot like Ganja-Bama Alien , don'tcha now ?

Now , for something at least MOST Folk will like to agree with :

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 7:45 AM

Quote:
Originally posted by out2theblack:
Quote:
Originally posted by Kwicko:
Sort of like , here in RWED , the tyranny of sickynym-ruetard-squicko attempting to shout down the small voices of dissent , and seeking to have folk with which thay [sic] disagree 'banned' , allowed no voice at all...

Chickenshit desperate liar ? That'd be you...

Folk here know that I'm not typically in the habit of misspelling words...But , they also know that you are a hot-headed trigger-happy psychopath , Babies & Bayonets Brigade mofo...

By the way Squick , how do YOU spell @SSh0le-retentive , and do you hyphenate that , like you do your ScamBO AFRO-pRESIDENT ? You know , the guy you gave the money , campaigned and voted for , who also wants to throw the big Odumba-Bongo OFF switch on to the Internet , to silence dissent in the event of a 'National Emergency' ?

Can't leave it be , gotta stir the pot like Ganja-Bama Alien , don'tcha now ?

BWAAAHAHAHAHAHAHAHAHAHAHAHA!!!

Yeah, you're "not in the habit of misspelling words", huh? See if you can figure out how many of them you misspelled just in the above post!

By the way, I can recall being called a "Grammar Nazi" and more, but I don't think anyone has ever accused me of actually INVENTING misspellings and blaming them for it before.

And as I've pointed out, of the two of us, one has been caught blantantly lying, and been called on it over and over and over, and refused to even address the issue. And you're lying still.

Did I or did I not try to have you banned, ever?

Why can't you answer? You know why? Because you're a liar and a coward, as you've so ably demonstrated.

Edited to respond to YOUR edit:

Quote:

So now , you change folks' posts in edit , just like you change thread titles ?

"Change folks' posts in edit?" What the hell are YOU smokin', son? I quoted your post exactly as you typed it. The only thing I added was the "[sic]" to denote your misspellings. Trust me, I don't need to misquote you or change your posts to make you look like an idiot; you're doing a fabulous job of that all by yourself!

As for changing thread titles, that I *have* done, and I'll freely admit it. And I'm far from alone in doing it, but I'm one of only a few who'll actually admit it (YinYang, Rue, SignyM are the only others I've seen take credit for it).

Mike

Sweeping generalizations are always wrong!

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 7:57 AM

More facts 'on subject' , which ADHD-Squick can't comprehend...

BTW , Squick , you're proving my point about shouting down other Folk , because you're NOT having a reasoned dialogue , by way of obstruction , obfuscation , and propaganda , which is also known as Censorship...

Full Page of Linked Articles about the global war against the Sovereignty of the United States , and the 'conspiracy theory' making possible the permanent econ-bomb siege :

http://www.globalresearch.ca/index.php?context=va&aid=14697

Here's a small sample preview :

'...Salbuchi begins a series of videos with some specific ideas, proposals and suggestions regarding what each of us CAN DO to fight the coming World Government, irrespective of where you are, what your work is, and what your resources - large or small - may be.

All Journeys begin with the First Step. For us, that First Step is to become AWARE that the One-Worldlers promoting WORLD GOVERNMENT are the Enemies of all of us: the Enemies of Mankind.
As such they must be fought, neutralized and overcome...'

YouTube VIDEO :

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 8:09 AM

ELVISCHRIST

Quote:
Originally posted by Out2theBlack:

I didn't misspell anything...Cheap-ass phony edit-mod.

I saw it mis-spelled, if that means anything.

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 8:25 AM

Quote:
Originally posted by ElvisChrist:
Quote:
Originally posted by Out2theBlack:

I didn't misspell anything...Cheap-ass phony edit-mod.

I saw it mis-spelled, if that means anything.

Could mean a lot of things...

Like , maybe you're not a good speller , or you're cross-eyed , or you need new glasses...

Or , it could mean you're missing the point of the subject , which is about the destruction of the US Dollar...

Reminds me of an old neighbor that I had who asked me to help him reconcile his bank statement...

I worked through the figures , everything checked out correctly , but he disputed my math , and said that me and the bank had both done it wrong , because *checks* are deducted *automatically*...

He just didn't get that although that WAS true , checks WERE deducted *automatically* , that to reconcile the statement one had to have a beginning balance , an ending balance , and also one needed to go through the step of assigning a *negative* value to the checks versus the Positive value of the deposits...

He got really angry about it , and said that he'd been examining his statements every month FOR YEARS , and that he'd always found all the MISSPELLED WORDS !

Which made me believe that he really didn't *get* the concept of reconciling a bank statement in the first place...

...Kind of like the way some Folk can't stay *on topic* in a reasoned dialogue on a discussion forum !

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 8:27 AM

Quote:
BTW , Squick , you're proving my point about shouting down other Folk , because you're NOT having a reasoned dialogue by way of obstruction , obfuscation , and propaganda , which is also known as Censorship...

Isn't it YOU that's obstructing, obfuscating, and propagandizing?

You've repeatedly gone back and changed your story AND changed your posts when I've called you on your bullshit, you've repeatedly tried to shout me down when I've brought up your lying and desperation, rather than simply face the facts, man up, and produce the evidence I've demanded.

You want the President of the United States (I don't need to hyphenate that, but apparently you do) to just show us the certificate; I want YOU to just show us where I've tried to have you banned.

Where is your evidence? The fact that you won't produce any clearly shows that you don't have any. Isn't that how you claim it works?

Mike

Sweeping generalizations are always wrong!

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 8:31 AM

Quote:
Could mean a lot of things...

Like , maybe you're not a good speller , or you're cross-eyed , or you need new glasses...

Or , it could mean you're missing the point of the subject , which is about the destruction of the US Dollar...

Or, it COULD mean that I was right, and that you're lying yet again, and going back and changing your posts.

Have you ever considered that maybe it's YOU who isn't a good speller, or is cross-eyed, or needs new glasses?

Yeah, when more than one person sees the problem, it just proves that they're missing the point of the subject, huh?

Remember, crazy-fuck - when you find yourself in a deep hole, STOP DIGGING!

Dipshit.

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 8:49 AM

SWISH

Quote:
Originally posted by out2theblack:
...Kind of like the way some Folk can't stay *on topic* in a reasoned dialogue on a discussion forum !

...says the guy who posted pictures of half-naked women to a thread about the economy.

??

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 9:29 AM

Quote:

By the way Squick , how do YOU spell @SSh0le-retentive , and do you hyphenate that , like you do your ScamBO AFRO-pRESIDENT ? You know , the guy you gave the money , campaigned and voted for , who also wants to throw the big Odumba-Bongo OFF switch on to the Internet , to silence dissent in the event of a 'National Emergency' ?

How do *I* spell "@SSh0le-retentive"? With less zeroes and @ signs. I think you mean "anal retentive", but given your horrible language skills, who can really say?

As for hyphenating the President's title, I don't refer to him as my "AFRO-pRESIDENT", so no need to hyphenate the title. I don't make that distinction to denote his race, but apparently you do. I also note that you call him, and I quote, "Odumba-Bongo" and "Scambo" - which certainly SEEMS like a bit of a racial thing. Why don't you just go ahead and call him "Sambo", or just come right out and drop the "N-bomb" on him like you know you really want to? If I had to guess, I'd say it's because you're too much of a coward to do that, too.

You can't stand that we got a black President, and you'll do or say ANYTHING to try to make it stop. But you can't. He's there, and you're still stuck in your backwoods shack having sexual fantasies about your mom and your sister, who are one and the same.

Mike

Sweeping generalizations are always wrong!

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 9:59 AM

Quote:
Originally posted by swish:
Quote:
Originally posted by out2theblack:
...Kind of like the way some Folk can't stay *on topic* in a reasoned dialogue on a discussion forum !

...says the guy who posted pictures of half-naked women to a thread about the economy.

??

Jus' tryin' to be agreeable , and move the thread in a positive direction...Besides , what's not apropos about half-naked ? You're not with the Taliban or something like that , are you ? Or ,

Did ya prefer totally nekkid ?

Actually , there's a documented relationship between women's clothing styles and economics , but that's an alley of another sort...

What'd you bring for show and tell ?

By the by , bombthrower Squick is at it again , tryin' to play the 'race card' ala ScamBO...

Hey , I'd like a black President...Bill Cosby , Walter Williams , Alan Keyes , or Dennis Haysbert...Anyone but pRESIDENT-SS-'Elect' ScamBO...

'...For all of Obama’s call to “work” for a better world, his work habits leave a lot to be desired.

In his fiction book Dreams of My Father he recounts how he got burned out in his community organizing job less than two years on the job:

"...I would momentarily forget where I was, my thoughts a numbed reflection of the silence. Marty suggested that I take more time off, build a life for myself away from the job. Without some personal support outside the work, an organizer lost perspective and could quickly burn out. There was something to what he said, for it was true that the people I met on the job were generally much older than me, WITH A SET OF CONCERNS AND DEMANDS THAT CREATED BARRIERS TO FRIENDSHIP."

http://therealbarackobama.wordpress.com/2008/08/17/worldcitizen4-obama
%E2%80%99s-work-ethics-or-how-to-take-the-world-without-even-trying/

Don't Worry , Barry...'Arbeit Macht Frei'

Go Ahead , Barry ! Do Some Work , Make Some Friends , But Please , Get your own Pie...

http://www.politicsdaily.com/2009/08/06/barracks-and-burger-king-u-s-b
uilds-a-supersized-base-in-afgh/

'...Eight years after American forces scattered the Taliban and effectively conquered Afghanistan, the United States is embarked on a frenzied $220 million building campaign at this sprawling and still expanding military air base. Just to meet the base's demand for fresh concrete, it has two of its own cement factories working full time.
There's plenty of guessing these days about whether Gen. Stanley McChrystal, the top commander in Afghanistan, will recommend a large troop increase here, and if so, how many, and if he does, whether President Obama will agree. But perhaps the construction of the new troop barracks, and permanent new facilities such as water treatment plants, headquarters buildings, fuel farms and power generating plants says more about the size and duration of this war than any White House press conference or Pentagon power-point presentation.'

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, August 10, 2009 10:49 AM

Quote:
By the by , bombthrower Squick is at it again , tryin' to play the 'race card' ala ScamBO...

So, in all honesty, nutsack, what am I *SUPPOSED* to think when you ask for a "reasoned debate" and then proceed to refer to the President of the United States, a black man, as "Scambo" and "Odumba-Bongo"? I mean, you're all but calling him "Sambo" and worse, but I'm not supposed to point that out? I'm supposed to just let that slide, in the interest of "reasoned debate"?

You call a black man these names, and then say *I'M* trying to bring race into this? Seriously?

By the way, what part of "reasoned debate" is it when you start fabricating charges, making things up out of whole cloth, accusing people of things they've never done, lying about their character, and then running away and hiding for weeks on end?

You're not interested in debate. That's the very last thing in the world you want. You're not interested in "reason", because you have none, and you've shown it, time and time again.

Mike

Sweeping generalizations are always wrong!

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Tuesday, August 11, 2009 1:24 PM

And once again, after throwing a few insults around and calling me a "bombthrower", Out2Lunch has run away again.

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Tuesday, August 11, 2009 5:31 PM

FREMDFIRMA

Quote:
"bombthrower"

Again, that's MY job!

Get it right, yeesh!

-F

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, November 23, 2020 3:33 PM

Some Fed guy talking about 2023

Pat Harker

https://www.inquirer.com/news/patrick-harker-philadelphia-federal-rese
rve-bank-economy-forecast-covid-19-20201006.html

https://financialpost.com/pmn/business-pmn/feds-harker-recovery-platea
uing-return-to-old-levels-will-take-some-time

A full 3 Years of Pain coming?
It won’t come back fully until 2023...what the

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Sunday, October 17, 2021 3:50 PM

Liberty and the Constitution
https://rumble.com/vmuktp-liberty-and-the-constitution-ronpaullibertyr
eport-robert-kiyosaki-kim-kiyos.html

Biden Says We Need More Debt To Pay Off Old Debt
https://www.bitchute.com/video/-3JafiUOCXo/

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Wednesday, December 1, 2021 12:11 PM

On Biden’s agenda, Democrats have a warning from history

https://www.pressherald.com/2021/11/02/on-bidens-agenda-democrats-have
-a-warning-from-history/

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Tuesday, December 21, 2021 9:10 AM

Musk hurls insults at Elizabeth Warren over her criticism of his taxes

'Honestly, I would just can this whole bill': Elon Musk rips Biden's 'Build Back Better' Plan
https://www.dailymail.co.uk/news/article-10284615/Honestly-just-bill-E
lon-Musk-rips-Bidens-Build-Better-Plan.html

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, June 6, 2022 6:56 AM

CONSPIRACY?

This may be the most important thread I ever make. Big picture stuff about the major global collapse that is coming.
https://threadreaderapp.com/thread/1533524778610348032.html
I will try to help you understand why the future is not what we’re hoping for. It's worse than most can imagine.

NOTIFY: N | REPLY | REPLY WITH QUOTE | TOP | HOME

Monday, June 6, 2022 10:01 AM

6IXSTRINGJACK

Quote:
Originally posted by JAYNEZTOWN:
CONSPIRACY?

This may be the most important thread I ever make. Big picture stuff about the major global collapse that is coming.
https://threadreaderapp.com/thread/1533524778610348032.html
I will try to help you understand why the future is not what we’re hoping for. It's worse than most can imagine.

There's nothing he said here that I haven't said in my post history on this site.

Correction... He's got a lot more recent fuckery to post about because I've more or less stopped worrying about it. My way of thinking for 10 or so years now has been "if that happens we're all up shit's creek".

I'll worry about it when it happens.

Because there isn't a goddamned thing I can do about it.

And I won't feel sorry that I was never able to get through to anybody about it either.

Because there was never a goddamned thing any of us could have ever done about it.

P.S. Capitalism IS the greatest system in the world. The problem is that we haven't had a Capitalist society since long before i was born. People only think we live with Capitalism right now because they're told that this increasingly warped and fucked up financial system we've been struggling with for decades is Capitalism.

Once they figured out that instead of passing laws they could leverage money to change people's behavior; to change local government's behavior, it was all over.

NOTIFY: Y | REPLY | REPLY WITH QUOTE | TOP | HOME

Sunday, November 3, 2024 3:55 PM