noworldsystem.com


U.S. Halfway to Depression Level

U.S. Halfway to Depression Level
ShadowStats.com founder John Williams explains the risk of hyperinflation. Worst-case scenario? Rioting in the streets and devolution to a bartering system.

Fairfield Weekly
December 31, 2009

Do you believe everything the government tells you? Economist and statistician John Williams sure doesn’t. Williams, who has consulted for individuals and Fortune 500 companies, now uncovers the truth behind the U.S. government’s economic numbers on his Web site at ShadowStats.com. Williams says, over the last several decades, the feds have been infusing their data with optimistic biases to make the economy seem far rosier than it really is. His site reruns the numbers using the original methodology. What he found was not good.

Maymin: So we are technically bankrupt?

Williams: Yes, and when countries are in that state, what they usually do is rev up the printing presses and print the money they need to meet their obligations. And that creates inflation, hyperinflation, and makes the currency worthless.

Obama says America will go bankrupt if Congress doesn’t pass the health care bill.

Well, it’s going to go bankrupt if they do pass the health care bill, too, but at least he’s thinking about it. He talks about it publicly, which is one thing prior administrations refused to do. Give him credit for that. But what he’s setting up with this health care system will just accelerate the process.

Where are we right now?

In terms of the GDP, we are about halfway to depression level. If you look at retail sales, industrial production, we are already well into depressionary. If you look at things such as the housing industry, the new orders for durable goods we are in Great Depression territory. If we have hyperinflation, which I see coming not too far down the road, that would be so disruptive to our system that it would result in the cessation of many levels of normal economic commerce, and that would throw us into a great depression, and one worse than was seen in the 1930s.

What kind of hyperinflation are we talking about?

I am talking something like you saw with the Weimar Republic of the 1930s. There the currency became worthless enough that people used it actually as toilet paper or wallpaper. You could go to a fine restaurant and have an expensive dinner and order an expensive bottle of wine. The next morning that empty bottle of wine is worth more as scrap glass than it had been the night before filled with expensive wine.

We just saw an extreme example in Zimbabwe. … Probably the most extreme hyperinflation that anyone has ever seen. At the same time, you still had a functioning, albeit troubled, Zimbabwe economy. How could that be? They had a workable backup system of a black market in U.S. dollars. We don’t have a backup system of anything. Our system, with its heavy dependence on electronic currency, in a hyperinflation would not do well. It would probably cease to function very quickly. You could have disruptions in supply chains to food stores. The economy would devolve into something like a barter system until they came up with a replacement global currency.

Read Full Article Here

 



Federal Reserve Assuring Great Depression

Federal Reserve Assuring Great Depression
Another Weimar, Argentina or Zimbabwe hyperinflation collapse is coming. . . unless we End the Fed!

http://www.youtube.com/watch?v=9r0R6PhbkIM

Federal Reserve Copies Weimar Hyperinflation

http://www.youtube.com/watch?v=AMY3aJwhfqg

Federal Reserve is owned by Rothschild, Bank of England

Bernanke Threatens Economic Collapse If Fed Audited

 



Schiff: Get out of the U.S. Dollar NOW

Peter Schiff: Get out of the U.S. Dollar NOW

http://www.youtube.com/watch?v=sjbgdg2_7XI

 



Globalists Call For A One World Currency
October 26, 2008, 3:31 pm
Filed under: 2008 Election, Amero, angela merkel, asia, bailout, Bank of America, Big Banks, brad sherman, Britain, C-Span, Canada, Carroll Quigley, central bank, CFR, China, civil liberties, civil rights, CNBC, Congress, corporations, corporatism, Credit Crisis, DEBT, Dictatorship, Dollar, ECB, Economic Collapse, economic depression, Economy, Empire, Europe, european central bank, european union, Fascism, Federal Reserve, France, g8, George Bush, Germany, glenn beck, global economy, global elite, global government, Globalism, gordon brown, Great Depression, Greenback, Habeas Corpus, henry paulson, Hitler, House, hyperinflation, imf, Inflation, interest rate cuts, internationalist, internationalists, job market, John McCain, liquidation, london, Martial Law, Media, middle class, morgan stanley, mortgage, national socialism, Nazi, New World Order, paris, Paulson, peter schiff, Police State, Posse Comitatus, rate cut, Sarkozy, Senate, single currency, socialism, sovereignty, Stock Market, tax, Taxpayers, unemployment, United Kingdom, US Economy, us sovereignty, US Treasury, Wall Street, World Bank, WW2, Zimbabwe | Tags: , , , , , , , , , , , , , , , , , , , ,

Globalists Exploit Financial Meltdown In Move Towards One World Currency

Paul Joseph Watson & Kurt Nimmo
Prison Planet
October 20, 2008

The swift and ruthless exploitation of the economic meltdown on behalf of globalists and central banks revolves around their drive to move towards a one world currency system and an unprecedented centralization of global financial power.

Statements on behalf of world leaders and central banks over the past two weeks have made it clear that the agenda to further collate economic power and control of currencies into the hands of the few is rapidly accelerating – all in the name of solving a financial crisis that was caused as a result of the same fiat money system that the elite themselves created and maintained.

The original Bretton Woods agreement in 1944, spurred by the depression of the 1930s and the second world war, created the International Monetary Fund, the World Bank and laid down common standards for markets around the world. Now with the current financial crisis EU leaders see another opportunity to impose global regulations on sovereign economies.

As the crisis reached its peak at the end of September, British Prime Minister Gordon Brown led the call for “a new global financial order in which the world financial system would be built around a centrally coordinated policy of international regulation.

Morgan Stanley Chief Executive John Mack has also called for a new global body to oversee the financial crisis, warning that it is like nothing he’s ever seen before.

The sentiment echoes those of elite figures such as CFR member Jeffrey Garten and Timothy Geithner, president of the Federal Reserve Bank of New York, who have both recently called for a “new global monetary authority”, a de-facto global financial dictatorship, operating across borders and forcing nations and corporations to register and adhere to strict monitoring and regulations.

European Central Bank council member Ewald Nowotny told Bloomberg yesterday that the centrality of the U.S. dollar was in question and that a “tri-polar” global currency system is in development between the U.S., Asia and Europe to replace it.

This followed a call by French President to question whether a “worldwide currency system” should be introduced in response to the financial crisis.

“Another subject in tomorrow’s world is that of the great currencies. How many should there be? What should the agreement between these great currencies be? Should we organize a discussion? Should a country like India one day have a global currency?” Sarkozy told a news conference, reports Reuters.

Any discussion would be purely academic, as the ruling elite long ago decided to force a global currency down our throats. In fact, a global currency is at the very core of their plan to dominate the world. Control money and you control the destiny of states, you eliminate national sovereignty. “The control of money and credit strikes at the very heart of national sovereignty,” A.W. Clausen, president of Bank of America once observed.

As Georgetown professor and CFR historian Carroll Quigley noted, the goal of the banking families and their minions consists of “nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole… controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.”

It remains to be seen if the EU will realize its “solution” to the world economic crisis. In 2007, Robert Mundell, “the father of the euro,” noted that “international monetary reform usually becomes possible only in response to a felt need and the threat of a global crisis.”

Certainly, the elite cooked up an appropriate global crisis, now they will engage in a full court press to establish a global currency and eventually a global government.

 

EU Leaders Call for Global Currency

Kurt Nimmo
Infowars
October 18, 2008

If we are to believe the Washington Post, French president and current EU leader Nicolas Sarkozy has pledged to save us from nameless “freewheeling bankers and traders” who get the blame for the current economic crisis.

Sarkozy, Gordon Brown, and EU honcho José Manuel Barroso are talking up an international summit to discuss an “urgent overhaul of the world’s financial architecture,” that is to say a new Bretton Woods to establish a brand spanking new international economic order. Sarkozy has managed to grab George Bush’s ear and he will travel to Washington on Saturday to lay the groundwork for a conference.

In 1944, 44 allied nations met at a resort in Bretton Woods, New Hampshire, to fiddle with monetary standards, fix exchange rates, and create the IMF and World Bank. “Launching a remake of this old model — particularly in such a short time, with so many new participants — would represent a daunting challenge at any time, but particularly during the twilight of the Bush presidency and the crisis that is still jolting banks and stock markets around the world,” reports the Post.

Sarkozy and the EU leaders would have us believe this new Bretton Woods will call for “globally coordinated regulation of the financial industry, elimination of tax havens and a compensation system in which traders are not rewarded for dangerous risk-taking,” among other things.

It was the demise of Bretton Woods in 1971, insists European Central Bank president Jean- Claude Trichet, that led to the abandonment of regulation and subsequent market turmoil. “The explosion of the first Bretton Woods in a way could be interpreted as a rejection of discipline,” said Trichet, reports Bloomberg.

Gordon Brown, the former Chancellor of the Exchequer, wants to fix that turmoil with a new spate of regulations aimed at international finance. On October 13 in London, Brown said “we must devise new rules for a world of global capital flows” just as the founders of Bretton Woods “devised rules for a world of limited capital flows.”

“We now have global financial markets but what we do not have is anything other than national and regional regulation and supervision,” Brown lamented from Brussels.

All of this is nonsense. It should be obvious by now the bankers engineered the current crisis in order to consolidate their hold on the global economy and all the talk about rogue traders, tax havens, and over-compensated executives is merely that — talk, or more specifically a sales pitch, a slick parlor trick devised to fool the commoners.

Glossed over in all the corporate media coverage is the global elite demand that a global currency be established. “Europe wants to present a blueprint for a new worldwide currency system,” reports the AFP in the video here.

“Another subject in tomorrow’s world is that of the great currencies,” Reuters reported Sarkozy musing on October 16. “How many should there be? What should the agreement between these great currencies be? Should we organize a discussion?”

Read Full Article Here

 

Glenn Beck On One World Currency
“There is a global meltdown coming, it is a global depression, a One World Currency and One World Financial System is the ENDGAME! China said last week said they want One Global Currency, France said yesterday or the day before that they want One World Order a New World Order at the end of this event!” – Glenn Beck

CNBC: The New World Order is in effect on wall street

Agree Canada, EU Agree To Negotiate Economic Partnership
http://www.nationalpost.com/news/story.html?id=885494

G-8 Announces Global Summit On Financial Crisis
http://news.yahoo.com/s/a..t=Ah6wNwIX5KlE5B1m5eFoDXlbbBAF

Bush & Allies Pledge Joint Action On Economy
http://www.youtube.com/watch?v=InFBnX87lzU

Brown: Use This Crisis To Create New Financial World Order
http://www.prisonplanet.com/..new-financial-world-order.html

 



China Police Jail Dissenters & Intimidate Journalists

Chinese Pleading For Human Rights Are Harrassed & Jailed Before Olympics, Journalist Are Intimidated

Washington Post
August 2, 2008

http://www.youtube.com/watch?v=Nbf5CYiVdMk

Behind the gray walls and barbed wire of the prison here, eight Chinese farmers with a grievance against the government have been consigned to Olympic limbo.

Their indefinite detainment, relatives and neighbors said, is the price they are paying for stirring up trouble as China prepares to host the Beijing Games. Trouble, the Communist Party has made clear, will not be permitted.

“My bet is the authorities won’t let them out until after the Olympics,” said Wang Xiahua, a veteran anti-government agitator from this farm town 180 miles southwest of Beijing and a supporter of the imprisoned farmers.

The Olympic Games have become the occasion for a broad crackdown against dissidents, gadflies and malcontents this summer. Although human rights activists say they have no accurate estimate of how many people have been imprisoned, they believe the figure to be in the thousands.

The crackdown comes seven years after the secretary general of the Beijing Olympic Bid Committee declared that staging the Games in the Chinese capital would “not only promote our economy but also enhance all social conditions, including education, health and human rights.”

Now, human rights have been set back rather than enhanced, activists say.

“The Olympics have reversed the clock,” said Nicholas Bequelin, a Hong Kong-based specialist for Human Rights in China.

Another foreign human rights advocacy group, Amnesty International, came to a similar conclusion in a report issued Monday titled “The Olympics Countdown — Broken Promises.”

“By continuing to persecute and punish those who speak out for human rights, the Chinese authorities have lost sight of the promises they made when they were granted the Games seven years ago,” said Roseann Rife, Amnesty’s Asia-Pacific deputy director. “The Chinese authorities are tarnishing the legacy of the Games.”

The repressive atmosphere has intensified in part because senior Communist Party officials seem to be just as determined to prevent embarrassing protests — which could be televised — as they are to avert terrorist attacks during the Olympics. In exhortations to security forces, Public Security Ministry commanders and Xi Jinping, the senior Communist Party leader in charge of Olympic preparations, repeatedly have said that police must block any attempt to damage China’s image.

Despite these concerns, President Bush and many other world leaders have accepted China’s invitation to attend the Olympic opening ceremony on Friday. After saying for months that the Games should be viewed only as a sporting event, Bush met with Chinese rights activists Tuesday and said he would use the opportunity to remind President Hu Jintao of U.S. support for human rights. The Foreign Ministry criticized his gesture, calling it interference in China’s internal affairs. But his decision to attend was still being interpreted as endorsement of China’s contention that the Olympic Games are not an appropriate stage for human rights appeals.

Read Full Article Here

 

Chinese police beat, detain 2 Japanese reporters

AP
August 5, 2008

Two Japanese journalists were briefly detained and beaten by police in western China, their companies and one of the men said Tuesday, triggering a protest by the Japanese government. Chinese officials later apologized.

They were working in Xinjiang at the scene of a deadly attack Monday on Chinese policemen when they were forcibly taken to a border police facility, said Shinji Katsuta, a reporter for Japanese broadcaster Nippon Television Network Corp.

“My face was pushed into the ground, my arm was twisted and I was hit two or three times in the face,” he said in a phone interview broadcast on his station.

A photographer from the Tokyo Shimbun newspaper, Shinzou Kawakita, was also apprehended and roughed up, said a company spokesman who declined to give his name, citing company policy.

Read Full Article Here

 

Chinese Rights Advocate Tortured in Captivity

Yu Hang
Sound of Hope Radio
August 5, 2008

In the shadow of a Beijing Olympics touted as a harbinger of change and human rights improvements, a well-placed informant from China disclosed to Sound of Hope Radio (SOH) the painful plight of renowned Chinese human rights attorney Gao Zhisheng since his disappearance a year ago.

The anonymous insider told SOH in a telephone interview that Gao, after his mysterious disappearance on September 22, 2007, was taken by the PRC police to a secret location where he suffered physical and psychological torture for nearly 60 days. The source said the level of torture was “beyond anyone’s imagination” and even the police executing the torture admired Gao’s uncompromising spirit.

While recounting the tortures inflicting on Gao, the insider souce said [transcribed from the telephone recording], “For example, they stripped attorney Gao Zhisheng naked, threw him to the ground and attacked him with electric batons. They deprived him of sleep. This is very common. It goes without saying that they beat him up as well. They have resorted to lowly, despicable means.”

The insider added that they tortured Gao Zhisheng to make him do three things. First, to make him write an article condemning Falun Gong. Second, to make him write articles condemning the founder of Falun Gong. Third, to make him write articles praising the Chinese Communist Party (CCP).

“But Gao Zhisheng did not compromise,” the source said. “The police were shattered to watch the horrible tortures. The outside world cannot imagine [the severity of the torture.]”

The insider added that Gao was tortured in the same way Falun Gong practitioners are tortured and that the level of torture will make one feel like an animal instead of a human being. The tortures were so cruel that Gao Zhisheng thought of committing suicide and hurting himself, according to the source. While recounting Gao’s plight, the insider repeatedly said, “the tortures are beyond anyone’s imagination.”

The insider told SOH that, with the Beijing Olympic Games impending, the CCP has secretly removed Gao’s family away from Beijing for fear of any unwanted incident, and the Chinese authorities do not plan to release Gao before the Olympic Games are over.

Gao Zhisheng is an attorney once highly praised by China for his successes. In 2005, after sending a series of open letters to authorities questioning the torture and abuse of Falun Gong practitioners, a campaign of harassment, arrest and torture was directed at Gao and his family.

Beijing sends Mugabe packing
http://www.watoday.com.au/news/la../08/05/1217701960735.html

China Orders Highest Alert for Olympics
http://www.nytimes.com/20..l?_r=2&ref=world&oref=slogin&oref=slogin

China apologises for roughing up journalists on eve of Games
http://www.breitbart.com/article…1.vz49fe9h&show_article=1

Beijing Olympics security: theater of the absurd
http://www.iht.com/articles/ap/2008/08/05/sports/OLY-Inside-the-Rings.php

 



Stressed banks borrow record amount from Fed

Stressed banks borrow record amount from Fed

Reuters
July 31, 2008

Banks borrowed a record amount of funds from the Federal Reserve in the latest week as the year old credit crisis took a persistent toll, while the commercial paper market continued to contract, signaling tough conditions for short term borrowers.

Banks’ primary credit borrowings averaged $17.45 billion per day in the latest week, the second straight week this had hit a record and up from $16.38 billion the previous week, Fed data showed on Thursday.

Read Full Article Here

 

Zimbabwe Devalues Currency

AP
July 30, 2008

Zimbabwe will drop 10 zeros from its hyper-inflated currency — turning 10 billion dollars into one — the country’s reserve bank said Wednesday. President Robert Mugabe threatened a state of emergency if businesses profiteer from the country’s economic and political unraveling.

Shop shelves are empty and there are chronic shortages of everything including medication, food, fuel, power and water. Eighty percent of the work force is unemployed and many who do have jobs don’t earn enough to pay for bus fare.

Read Full Article Here

 

Inverview with George Green – (7/16/2008)

Recent News:

Bush signs housing bill in private
http://www.politico.com/news/stories/0708/12166.html

Soaring energy bills set to push inflation to 16-year high
http://www.dailymail.co.uk/news/ar..set-push-inflation-16-year-high.html

GM Has $15.5 Billion Loss on U.S. Sales Drop, Leases
http://www.bloomberg.com/apps/news?pid=20601087&sid=agMEuJ_r_yxA&refer=worldwide

Venezuela to Nationalize Spanish Bank
http://english.cri.cn/2947/2008/08/01/1821s388058.htm

IndyMAC Files For Bankruptcy Protection
http://www.nytimes.com/2008..2&ref=business&oref=slogin&oref=slogin

Jobless Claims Up Highest In Five Years
http://www.wnbc.com/news/17049831/detail.html

Inflation Could Hit 6% By Fall?
http://economictimes.indiatimes.com..Economist/articleshow/3307499.cms

Deutsche Bank Writedowns Exceed $11 Billion
http://moneynews.com/financenews/bank_writedowns/2008/07/31/117802.html

Shell reports 33% rise in profit
http://www.iht.com/articles/2008/07/31/business/31shellNEW.php

Exxon posts record $11.68 billion profit
http://money.cnn.com/2008/07/31/news/.._profits/?postversion=2008073109

Britons Skipping Meals Due To Money Worries
http://www.money.co.uk/article/100..-meals-due-to-money-worries.htm

IMF Calls For N. African Economic Integration
Greenspan: Housing No Where Near Bottom
Economic Rebound Not As Energetic As Hoped
Biggest dive for commodities in 28 years

U.S. Economic Collapse News Archive

 



Students Offer $5,000 For Rice’s Arrest

Students Offer $5,000 For Rice’s Arrest

Scoop
July 24, 2008

Auckland students seek the arrest of a high-level United States official visiting Auckland this weekend. New Zealand’s largest students’ association has offered any Auckland University student a $5000 reward if they are able to make a successful citizen’s arrest of United States Secretary of State Condoleezza Rice during her visit to Auckland over the weekend, for her role in overseeing the illegal invasion and continued occupation of Iraq.

“It is hard enough living as a student in Auckland these days without having a war criminal coming to town, so we thought we’d give our students a chance to make a dent in their student loans and work for global justice at the same time”, says AUSA President David Do.

The invasion and occupation of Iraq was overseen by Condoleeza Rice and other US officials in her role as National Security Advisor and later Secretary of State (equivalent to Minister of Foreign Affairs).

“Generally when US officials visit overseas they are heavily shielded from the general public, and unfortunately its not hard to see why,” adds David Do.

“Rice is the public spokesperson for an illegal and immoral occupation that has resulted in tens of thousands of deaths and the continued oppression of the people of Iraq. We believe Rice should be arrested and detained in accordance with the law and tried fairly at the International Criminal Court for her role in these war crimes,” said AUSA International Affairs Officer Omar Hamed, who moved the motion for the reward at Monday’s AUSA Executive meeting.


Citizen’s arrests of high ranking government officials have been attempted recently:

-John Bolton, the former US ambassador to the United Nations, escaped an attempted citizen’s arrest by author and activist George Monbiot at the British Hay Arts Festival in late May 2008.

-Peace activist Peter McGregor attempted a citizen’s arrest of Australia’s then Attorney-General Philip Ruddock as a war criminal at the University of New South Wales in July 2007

-Campaigner Peter Tatchell has twice attempted to make a citizen’s arrest on Zimbabwe president Robert Mugabe.