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Peter Schiff on The Fed & Your Money

Peter Schiff on The Fed & Your Money

http://www.youtube.com/watch?v=vUPZEUIWANQ

 



IMF Warns of Revolution if Another Bailout Issued

IMF Warns of Revolution if Another Round of Bailouts are Handed Out

Washington’s Blog
November 24, 2009

Many officials and experts have warned of violence stemming from the economic crash.

The head of the International Monetary Fund, Dominique Strauss-Kahn, is now warning that there might be a revolution in some countries if governments hand out another round of bailouts to the financial sector:

    The public will not bail out the financial services sector for a second time if another global crisis blows up in four or five years time, the managing-director of the International Monetary Fund warned this morning. Dominique Strauss-Kahn told the CBI annual conference of business leaders that another huge call on public finances by the financial services sector would not be tolerated by the “man in the street” and could even threaten democracy.

    “Most advanced economies will not accept any more [bailouts]…The political reaction will be very strong, putting some democracies at risk,” he told delegates.

 



Taxpayers will lose on auto bailouts

Taxpayers will lose on auto bailouts

CNN Money
September 9, 2009

Much of the money given to General Motors and Chrysler to prevent them from collapsing will never be recovered, according to a report released Wednesday by the Congressional Oversight Panel.

“Although taxpayers may recover some portion of their investment in Chrysler and GM, it is unlikely they will recover the entire amount,” the report says, citing estimates from the Treasury Department and Congressional Budget Office.

The oversight panel, headed by Harvard University professor Elizabeth Warren, was created by Congress last year to oversee the $700 billion Troubled Asset Relief Program.

GM and Chrysler were each teetering on collapse this spring when the Obama administration effectively forced both automakers into bankruptcy, lending them enough to survive. Both have shed billions of dollars in debt and are now rebuilding.

All told, since late last year, the government has provided or pledged the two companies, icons of American manufacturing, more than $60 billion in aid.

Treasury estimates that about $23 billion of initial loans to the two companies “will be subject to ‘much lower recoveries,’ ” the panel’s report says. In particular, $5.4 billion of loans to Chrysler are “highly unlikely to be recovered,” it continued.

“The initial loans made last fall as the industry was imploding and when no restructuring plan was in place are not likely to be repaid in full,” Warren said during a conference call with reporters.

How much of the remaining funds will be recovered is impossible to predict, Warren said, because the loans have been converted to stock.

“The American taxpayer is now an equity investor in Chrysler and GM,” Warren said. “And the return on its investment depends on what those companies are worth in a year or two.”

The government owns 10% of Chrysler and 61% of GM.

Read Full Article Here

 



9/11 Hero: Bailout Us Sick First Responders

9/11 Hero: Bailout Us Sick First Responders

http://www.youtube.com/watch?v=46L3K2djrNM

 



Globalist Banker Speaks Against New World Order

Globalist Banker Speaks Against New World Order

http://www.youtube.com/watch?v=B0V-XTadvQY

http://www.youtube.com/watch?v=AvQw5LkISyM

 



Obama Reappoints Bernanke for Second Term

Embracing Bushonomics, Obama Re-appoints Bernanke

Mark A. Calabria
Cato @ Liberty
August 25, 2009

In re-appointing Bernanke to another four year term as Fed chairman, President Obama completes his embrace of bailouts, easy money and deficits as the defining characteristics of his economic agenda.

Bernanke, along with Secretary Geithner (then New York Fed president) were the prime movers behind the bailouts of AIG and Bear Stearns. Rather than “saving capitalism,” these bailouts only spread panic at considerable cost to the taxpayer. As evidenced in his “financial reform” proposal, Obama does not see bailouts as the problem, but instead believes an expanded Fed is the solution to all that is wrong with the financial sector. Bernanke also played a central role as the Fed governor most in favor of easy money in the aftermath of the dot-com bubble — a policy that directly contributed to the housing bubble. And rather than take steps to offset the “global savings glut” forcing down rates, Bernanke used it as a rationale for inaction.

Perhaps worse than Bush and Obama’s rewarding of failure in the private sector via bailouts is the continued rewarding of failure in the public sector. The actors at institutions such as the Federal Reserve bear considerable responsibility for the current state of the economy. Re-appointing Bernanke sends the worst possible message to both the American public and to government in general: not only will failure be tolerated, it will be rewarded.

Judge Orders Fed To Disclose Who Received Bailout Trillions

Geithner: Auditing the Fed is a “line that we don’t want to cross”

 



Instigated Uprising Leading To Martial Law

Instigated Uprising Leading To Martial Law

http://www.youtube.com/watch?v=g5-8d0n70QY

‘An Intense-but-short depression will help Economic World Order’