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Jerome Corsi: America Will Be Sold To World Government

October 16, 2009, 5:51 am
Filed under: 2-party system, Barack Obama, China, common currency, Communism, Congress, Credit Crisis, DEBT, deflation, Dictatorship, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, Empire, european union, Fascism, fiat currency, Fox News, g20, George Bush, george soros, global bankers, global central bank, global currency, global economy, global elite, global government, global treasury, Globalism, globalist elite, globalists, Great Depression, Greenback, Hillary Clinton, housing market, hyperinflation, imf, IMF bonds, Inflation, International Banks, internationalism, internationalist, internationalists, jerome corsi, jimmy carter, job market, Joseph Stiglitz, left right paradigm, market manipulation, neocons, New World Order, NWO, obama, Oil, One World Government, Rahm Emanuel, Russia, SDR, SDRs, Sean Hannity, single currency, socialism, sovereignty, Stock Market, subprime, subprime lending, super currency, truth movement, UN, united nations, US Economy, us sovereignty, Wall Street, World Bank, world currency, world government, zbigniew brzezinski

Jerome Corsi: America Will Be Sold To World Government

http://www.youtube.com/watch?v=dMkSref0soc

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

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Socialist Dictatorship: Taxpayers to Pay $700B Bailout

September 23, 2008, 11:46 pm
Filed under: 9/11, Alan Greenspan, bailout, bernanke, Big Banks, Bill Maher, Central Banks, chris dodd, Communism, Congress, Coup, Credit Crisis, DEBT, Dictatorship, Dollar, Economic Collapse, economic depression, Economy, Empire, fannie mae, Fascism, Federal Reserve, freddie mac, George Bush, global economy, gold, Great Depression, Greenback, Harry Reid, henry paulson, House, housing market, hyperinflation, Inflation, Joseph Stiglitz, Lehman Brothers, middle class, mortgage, mortgage companies, Nazi, neocons, Paulson, real estate, SEC, Senate, socialism, Stock Market, subprime, subprime lending, Taxpayers, US Economy, US Treasury, Wall Street | Tags: Frank Razzano, John Steele Gordon, Max Keiser, paul krugman, run on banks, tent cities

U.S. Treasury Proposes $700B Bailout Plan For Wallstreet

Reuters
September 20, 2008

The Bush administration proposed a $700-billion taxpayer-funded plan on Saturday to buy up toxic mortgage-related securities in an urgent effort to calm financial markets and attack the nation’s housing crisis.

Under the program, the U.S. Treasury Department would buy, or commit to buy, “mortgage-related assets from any financial institution having its headquarters in the United States,” said a copy of the Treasury Department’s draft legislation obtained by Reuters.

The department could hire asset managers to handle the securities, which could include residential or commercial mortgages and related instruments that were originated or issued on or before September 17, 2008, the draft said.

Congressional committees were to be briefed on Saturday on the legislation, which could be considered by the U.S. House of Representatives and Senate as early as next week.

The plan also calls for raising the federal government’s borrowing authority to $11.315 trillion. The debt limit is currently $10.615 trillion.

The government is moving aggressively to soak up billions of dollars of hard-to-sell mortgage-backed securities and related assets that have been choking world capital markets since the bursting of a historic U.S. home price bubble.

We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab)

George Washington’s Blog
September 21, 2008

Congress hopes to pass the $700 Billion bailout bill by Friday, according to an article in Bloomberg.

In case you haven’t heard, the bill would not only stick up American taxpayers for an additional $700 billion, but would literally give Paulson and the government fascist powers.

Don’t believe me?

Well, as the Bloomberg article notes: “The bill would bar courts from reviewing actions taken under its authority.”

Bloomberg includes the following quotes by people who understand the significance of the bill:

It sounds like Paulson is asking to be a financial dictator, for a limited period of time,” said historian John Steele Gordon . . . .

***

The Bush administration seeks “dictatorial power unreviewable by the third branch of government, the courts, to try to resolve the crisis,” said Frank Razzano, a former assistant chief trial attorney at the Securities and Exchange Commission now at Pepper Hamilton LLP in Washington. “We are taking a huge leap of faith.”

This power grab is so serious that investigative reporter Larisa Alexandrovna calls it “the final stages of the coup“.

We have days to stop this bill. March on Congress. Educate and motivate everyone around you. Do everything you can to prevent this disaster before it is too late.

Krugman: ’Look, this is really scary. This is really bad, This could be 1931’

http://www.youtube.com/watch?v=FKMy8pf9qY8

Keiser: US dollar “backed by bananas”

http://www.youtube.com/watch?v=Vhf9KwSUQYw

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Traitor Greenspan Urges Gulf States To Abandon Dollar

February 27, 2008, 10:36 am
Filed under: Abu Dhabi, Alan Greenspan, Alex Jones, asia, bernanke, bonds, central bank, China, Credit Crisis, DEBT, dollar peg, Economic Collapse, economic depression, Economy, Euro, Federal Reserve, food crisis, food market, food prices, George Bush, Great Depression, Greenback, gulf, imf, Inflation, interest rate cuts, Joseph Stiglitz, liquidation, rate cut, sterling, Stock Market, UAE, US Economy, US Treasury, World Bank

Traitor Greenspan Urges Gulf States To Abandon Dollar
Former Fed chief’s insistence that Arab nations dump greenback peg could lead to economic chaos in America

Paul Joseph Watson
Prison Planet
February 26, 2008

Alan Greenspan has again exposed himself as a traitor working against the interests of the American people by urging Gulf states to abandon the dollar peg, a move that could result in financial chaos and an economic depression in America.

The dollar peg mandates Gulf nations to price their assets in U.S. dollars and follow U.S. monetary policy at a time when the Fed is cutting interest rates, a system that has produced a boom in oil revenues but led to high inflation as the dollar weakens.

“It [de-pegging] is probably the most useful thing that can be done to stop the increasing influence of foreign assets on the monetary system and therefore the monetary base which is basically the major force in inflationary pressures,” Greenspan told the Abu Dhabi Corporate Leadership Forum yesterday.

“In the short term free floating … will not fully dissipate inflationary pressure, although it would significantly do so,” added Greenspan, giving a green light for Gulf states to drop the dollar peg.

According to Economist editor Pam Woodall, Greenspan’s comments heralded the beginning of the end for the US dollar as the currency of choice for foreign exchange reserves.

“If Asian central banks hold today more than 80 per cent of the global foreign exchange reserves, which indicates the shift of the global economy domination towards Asia, it seems quite awkward that the UAE still maintains the peg of its currency to the US dollar,” she told Gulf News.

Greenspan’s zeal to destroy the dollar is evident in numerous public statements he has made predicting the replacement of the dollar with the Euro as the world reserve currency.

The former Fed chairman has repeatedly badmouthed the dollar and hyped the inevitability of economic chaos at a time when market confidence is in the toilet. Greenspan’s rhetoric matches that of the IMF, who in October of last year bizarrely slammed the dollar as “overvalued” at the same time the greenback hit its all time low against the Euro.

A decision on behalf of the Gulf states to abandon the dollar peg would have disastrous consequences for the greenback and the American economy.

Such a move could lead the likes of the United Arab Emirates and Saudi Arabia to diversify their foreign exchange holdings out of dollars. This would amount to a vote of “no confidence” in the dollar and may cause other countries with large dollar reserves, such as China and Japan, to follow suit and begin dumping the greenback en masse.

China has threatened repeatedly to use the “nuclear option” and liquidate its vast holding of US treasuries in response to continued pressure on the Communist state to force a yuan revaluation. According to a widely-read London Telegraph report, such an event “could trigger a dollar crash” and also “cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession.”

Runaway inflation would also ensue, making the cost of living unaffordable to even middle class Americans as food prices skyrocket and international aid organizations like the World Food Programme predict rationing and food riots.

The dollar has held firm against the Euro and recovered some losses against Sterling over the past two months, but it has still lost 12 per cent of its value against the trade-weighted index over the last two years and has plunged by a whopping 60 per cent against the Euro since Bush entered the White House.

Stiglitz Blames Greenspan For Recession
Former World Bank Chief Economist says US probably already in recession

Steve Watson
Infowars.net
February 26, 2008

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Former chief economist of the World Bank, Joseph Stiglitz, has said that the US economy is already in recession and is pointing the finger of blame directly towards former Federal Reserve chairman Alan Greenspan.

Remarking that the economy is “probably” now in recession, Stiglitz told Bloomberg Television that “There is a very significant slowdown in the U.S. economy… The housing bubble has broken and housing prices are coming down. Most experts think they will have to come down substantially more.”

Stiglitz stressed that Alan Greenspan “is right that this downturn is going to be the worst downturn in a quarter century, but he’s largely to blame,” adding “It’s not just that he was asleep at the wheel, he actively looked the other way”.

Stiglitz’s comments come on the back of news that Greenspan has been actively urging Gulf states to abandon the dollar peg, a move that could result in financial chaos and a further economic depression in America. We have previously reported on Greenspan’s penchant for working to destroy the US economy.

Stiglitz also took a swipe at current Fed chairman Ben S. Bernanke, charging him with failing to counter the deterioration of the real-estate market by procrastinating over interest rate cuts.

“The dramatic lowering of the main interest rate by 75 basis points [last month] was a panic not a prudent measure.” Stiglitz said.

The Nobel-prize winning economist also cited the $3 trillion cost of the Iraq war as a key factor in the economic downturn, saying it has increased the budget deficit and consumed resources that would otherwise promote growth.

In contrast, the president last week stated that the war in Iraq has had no bearing on the economic slump.

Stiglitz is no stranger to speaking out against the establishment on the economy. In October 2001 he caused controversy when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing out their economies.

Sixteen months ago, on the nationally syndicated Alex Jones radio show, Stiglitz predicted a global economic crash would occur within 2 years.

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Economic Expert Says Global Crash Imminent

November 22, 2007, 7:07 am
Filed under: Australia, Bank of England, Canada, canadian dollar, central bank, China, Credit Crisis, Economic Collapse, economic depression, Economy, energy, engineered recession, Europe, Federal Reserve, food prices, George Bush, global economy, global elite, Globalism, gold, Goldman Sachs, Great Depression, Greenback, housing market, imf, Inflation, Joseph Stiglitz, loonie, Northern Rock, Oil, OPEC, Paulson, Saudi Arabia, Stock Market, US Economy, US Treasury, Wall Street, World Bank, yale

Economic Expert Says Global Crash Imminent
Echoes former world bank leader with prediction of global recession

Steve Watson
Infowars.net
November 20, 2007

A leading economic expert has warned that a global crash and recession is imminent on the back of record highs in real estate, stocks and energy, combined with a devaluation of the dollar and continued “speculative bubble thinking”.

Robert Shiller, the Stanley B. Resor Professor of Economics at Yale University told an audience at the annual Dubai International Financial Centre (DIFC) Week that a sharp downward correction is due in the global markets.

Shiller stated:

“Perhaps we have gotten a little too confident in the global economic growth,” said Shiller. “The problem is high oil, stock and real estate prices. I believe that a substantial part is speculative bubble thinking. We have gotten too confident of the prices in these markets,”.

“The unwinding of these markets is the most serious risk facing these markets today,” Shiller added.

With the effects of the credit crunch hitting more and more lower level lenders, it is clear to see that the fallout is spreading and propagating a general decline. We are seeing the unfolding of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.

Shiller also pointed to the futures market, such as that of the CME in Chicago, which now predicts a major, ongoing decline over the coming four years.

We are witnessing the unfolding of a crash exactly as predicted by Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz last year.

Stiglitz agreed that the process of hijacking and looting key infrastructure on the part of the IMF and World Bank, as an offshoot of predatory globalization, has now moved from the third world to Europe, the United States and Canada.

Stiglitz warned that the signs were there with plummeting real estate prices in the U.S., stating that a global economic depression could only be avoided if a correction was made.

But no correction will be made because the World Bank/IMF/Globalist doctrine betrays a focused agenda to deliberately foment economic turmoil, riots, and then enforced bondage to eternal debt. We have witnessed this time and time again, their own documents even confirm this as the chosen method of social control.

The shareholders of Federal Reserve, part of the same group of elite families that owns the bank of England, created the IMF and World bank to siphon government funds. Then they effectively steal the real assets of the third world countries that take their loans in some cases at 42% interest. These global loan sharks secure the water, power and roads which are then handed over to private, piratical, letter of mark companies.

China Voices Alarm at Dollar Weakness

Financial Times
November 19, 2007

China on Monday expressed concern at the decline in the dollar, joining a growing chorus of global policymakers alarmed by the weakness in the world’s main reserve currency.

Premier Wen Jiabao told a business audience in Singapore it was becoming difficult to manage China’s $1,430bn foreign exchange reserves, saying that their value was under unprecedented pressure.

“We have never been experiencing such big pressure,” Mr Wen said, according to Reuters. “We are worried about how to preserve the value of our reserves.”

China keeps the currency composition of its reserves a state secret, but some analysts believe that more than two-thirds are probably still held in dollars.

Mr Wen’s comments came as top international economic officials spoke out in support of a strong dollar in the aftermath of the weekend’s Group of 20 summit in South Africa and Opec meeting in Riyadh.

Hank Paulson, US Treasury secretary, told reporters in Ghana: “A strong dollar is in our nation’s interest.”

He said the US economy had its “ups and downs” but he believed that “our long-term economic strength will be reflected in currency markets”.

Mr Paulson and other top US officials, including President George W. Bush, have become increasingly vocal on the dollar in recent days in an apparent effort to signal that they are not indifferent to its fate.

Zhou Xiaochuan, China’s central bank chief, said Beijing wanted a strong dollar because it would help to ensure an orderly resolution of the recent market instability caused by US mortgage lending problems.

“So in this sense, actually we hope to see a strong dollar,” Reuters quoted Mr Zhou as saying. “We support a strong dollar.”

Jean-Claude Trichet, president of the European central bank, told reporters that Mr Zhou’s remarks “echoed what has been said by the monetary authorities of the US”.

“What we are witnessing is unco-ordinated verbal intervention,” said Stephen Jen, head of currency research at Morgan Stanley. “This is useful as in the absence of it, investors and speculators would have interpreted it as the authorities condoning what was going on in the currency markets.”

The Japanese yen rallied against a range of currencies on Monday, notably commodity-based rivals such as the Canadian and Australian dollars. The prospect of China allowing its currency to appreciate against the dollar drove sentiment, traders said.

The dollar was largely unchanged in early US trading. The US currency has shown some tentative signs of stabilisation in the past few days, but many analysts remain bearish.

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Dollar Decline “Irreversible”

November 18, 2007, 3:51 pm
Filed under: Alan Greenspan, Bank of England, Big Banks, Britain, China, citigroup, Credit Crisis, Dow, Economic Collapse, economic depression, Economy, Euro, global economy, Goldman Sachs, Great Depression, Greenback, housing market, Inflation, interest rate cuts, Joseph Stiglitz, Merrill Lynch, Northern Rock, Paulson, pound, rate cut, Stock Market, subprime, subprime lending, US Economy, US Treasury, wells fargo, Yen

Dollar Decline “Irreversible”

The Independent
November 17, 2007

The decline of the dollar, symbol of US global hegemony for the best part of a century, may have become so entrenched that some experts now fear it is irreversible.

After months of huge and sustained turmoil on the money markets, lack of confidence in the world’s totemic currency has become so widespread that an increasing number of international traders are transferring their wealth to stronger currencies such as the euro, which recently hit its highest level against the dollar.

“An American businessman over here who is given the choice would take anything but the dollar,” David Buik of Cantor Index said yesterday. “I would want to be paid in yen, and if not yen then the euro or sterling.”

Matthew Osborne, of Armstrong International, added: “The majority would say sterling. There are a few dealers in the City who may take the view that they’ll take dollars now, while they’re cheap, and hold on to them for 12 months.

“But the problem is so serious that there are people who in July or August might have been thinking, ‘I’m paid in dollars, how annoying’ for whom it’s now a question of, ‘Do you have a job; do you have a bonus?’ “

The collapse of the sub-prime mortgage market in the US, which is fuelling the dollar unrest, has already brought down one British bank, Northern Rock, and has forced others to declare vast losses. Yesterday, just as it appeared that the dollar might have finally reached its floor, there was another warning that the sub-prime crisis is going to get worse. The US Treasury Secretary Henry Paulson, warned an international business summit in South Africa: “The sub-prime market, parts of it will get worse before it gets better.” Huge numbers of US homeowners are still cushioned by introductory interest rates set when they took out loans in 2005 or 2006, he said. When these introductory offers run out, their interest payments will increase, setting off another wave of defaulting and repossessions. And the dollar is enduring its rockiest spell in recent memory.

Read Full Article Here

Goldman Sees Subprime Cutting $2 Trillion in Lending

Bloomberg
November 16, 2007

Nov. 16 (Bloomberg) — The slump in global credit markets may force banks, brokerages and hedge funds to cut lending by $2 trillion and trigger a “substantial recession” in the U.S., according to Goldman Sachs Group Inc.

Losses related to record home foreclosures using a “back- of-the-envelope” calculation may be as high as $400 billion for financial companies, Jan Hatzius, chief U.S. economist at Goldman in New York wrote in a report dated yesterday. The effects may be amplified tenfold as companies that borrowed to finance their investments scale back lending, the report said.

“The likely mortgage credit losses pose a significantly bigger macroeconomic risk than generally recognized,” Hatzius wrote. “It is easy to see how such a shock could produce a substantial recession” or “a long period of very sluggish growth,” he wrote.

Goldman’s forecast reduction in lending is equivalent to 7 percent of total U.S. household, corporate and government debt, hurting an economy already beset by the slowing housing market. Wells Fargo & Co. Chief Executive Officer John Stumpf said yesterday that the property market is the worst since the Great Depression.

Citigroup Inc., the biggest U.S. bank, and Merrill Lynch & Co. have led companies writing down more than $50 billion on securities linked to subprime mortgages. The risk of further losses by banks has pushed their borrowing costs above the average for investment-grade companies, according to Merrill Lynch indexes. Citigroup paid bondholders the highest yield relative to benchmark interest rates in its history this week.

Read Full Article Here

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IMF Badmouths The Dollar In Open Attack On American Middle Class

October 19, 2007, 5:51 pm
Filed under: Alan Greenspan, Amero, bernanke, bilderberg, China, Credit Crisis, Economic Collapse, economic depression, Economy, engineered recession, Euro, european union, Federal Reserve, global economy, Great Depression, Greenback, housing market, imf, Inflation, Joseph Stiglitz, middle class, monopoly, North American Union, Oil, Paulson, Ron Paul, Stock Market, subprime, subprime lending, US Economy, Wall Street

IMF Badmouths The Dollar In Open Attack On American Middle Class
As part of broader elitist strategy to lower living standards and create two-caste Chinese model

Paul Joseph Watson
Prison Planet
October 19, 2007

Mirroring recent rhetoric from Alan Greenspan, Ben Bernanke and Henry Paulson, the IMF has publicly badmouthed the dollar, claiming it is “overvalued” despite the fact it has lost over half of its value against the Euro since 2001, and predicts its plunge as part of a broader strategy to sink the American middle class.

Countering the pleas of the French and other eurozone countries, who have been forced to beg Bernanke to restore some trust in the greenback as EU exports begin to feel the bite, the IMF has openly and enthusiastically given the green light for traders to continue to sell the dollar.

“The Fund thinks that the US current account deficit will remain close to 1.5 per cent of world output until 2012, raising the likelihood of a disorderly plunge in the dollar and protectionism growing over the next few years,” reports the Financial Times.

In their World Economic Outlook brief, the IMF brazenly states that the agenda in continually badmouthing the dollar is to exalt the Chinese Renminbi in order to contribute to “a necessary rebalancing of demand and to an orderly unwinding of global imbalances.”

In layman’s terms, this means lowering the living standards of the American middle class by tanking the dollar and sending oil prices skyrocketing towards $200, as part of the “post-industrial revolution” agreed upon by the Bilderberg Group. This would eviscerate the middle class and create a two-caste system based upon the Chinese model, where the super-rich live in opulence and the rest of the population are forced to struggle on the poverty line.

The ceaseless bad-mouthing of the dollar in public is clearly part of an orchestrated move to destroy the U.S. economy and pave the way for the Euro to become the world’s reserve currency, eventually heralding the birth of the Amero – the currency of the North American Union.

Former Fed Chairman Alan Greenspan has also been active trashing the greenback over the last two months, in September stating that the Euro would replace the dollar as the global reserve currency of choice.

Also last month, Congressman Ron Paul slammed Federal Reserve Chairman Ben Bernanke for deliberately depreciating the value of the dollar to artificially bail out Wall Street while poor and middle class people lose their homes and have their living standards lowered (watch below).

http://www.youtube.com/watch?v=AeHWW5gbc0w

Paul questioned how it could ever be morally justifiable to deliberately depreciate the dollar and pointed out the fact that the dollar collapse was a deliberate policy on behalf of the Fed.

We are witnessing the unfolding of a crash precisely as former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz predicted last year.

IMF says dollar ‘overvalued’
http://www.ft.com/cms/s/e87f070e-7c96-11dc….%3D1&nclick_check=1

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