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There is little doubt that the United States economy
is edging closer to collapse. The U.S. is facing not just a recession but a
depression and almost everyone in the U.S. mainstream press is in denial. The
major cable news networks prefer to run story after story on celebrity sex
scandals and other perversions than to talk seriously about the tanking U.S.
economy. There is literally no good economic news. This past week we’ve
seen oil reach a record high of $147 a barrel and we are also starting to see
future predictions of $200 and even $300 for a barrel of oil. As if that
wasn’t bad enough, the 2nd largest bank failure in U.S. history took
place this past week and there are even predictions that 150 banks could fail
over the next 12 to 18 months. Mortgage giants Fannie Mae and Freddie Mac
which were facing collapse last week are now going to be bailed out by the
U.S. government at great cost to the American people. Foreign interests
continue to buy up what’s left of America as Anheuser Busch just got
bought out by a European company. Along with all of this horrible news, the
U.S. Dollar continues to lose more and more value as the Federal Reserve
crime syndicate refuses to implement policies to defend the validity of the
currency. The insanity of this is unparalleled.
There are so many different facets to the unraveling
economy that it would literally take days to properly analyze everything
that’s happening. What is clear is that all of this is happening by
design. The high oil prices have been the result of the Federal Reserve
devaluing the U.S. Dollar through their policy decisions. This combined with
the continued funding of war in the Middle East are key causes behind the
parabolic rise in oil.
Putting oil aside, almost all of the economic
problems that we see occurring are the result of currency devaluation. Alan
Greenspan’s policies of excessive credit creation fueled a bubble in
the NASDAQ stock market during the late 1990s and spawned the housing market
bubble that we are dealing with today. This has caused all sorts of problems
within the banking system and has lead towards the IndyMAC bank failure and
the very real prospects of additional bank failures. In fact, the FDIC has
already hired additional staff in anticipation of this. The collapse in the
housing market has also been one of the primary causes of Fannie Mae and
Freddie Mac teetering towards collapse while a government bailout looms.
Jim Rogers a highly respected financial analyst slammed the government bailout of
Fannie Mae and Freddie Mac.
``I don't know where these guys get the audacity to
take our money, taxpayer money, and buy stock in Fannie Mae,'' Rogers, 65,
said in an interview from Singapore. ``So we're going to bail out everybody
else in the world. And it ruins the Federal Reserve's balance sheet and it
makes the dollar more vulnerable and it increases inflation.''
Rogers has made predictions that the Federal Reserve
could fail within the next decade. He has also been critical of the
Fed’s policies that have resulted in the continued devaluation of the
U.S. Dollar. He is not alone in his sentiments as other economists like Marc
Faber also believe that the U.S. central bank and the currency it creates out
of thin air could eventually collapse.
Despite massive currency devaluation, record high
oil prices, an insane foreign policy, predictions of looming bank failures
around the country and this recent debacle with Fannie Mae and Freddie Mac,
the pundits on CNBC are still optimistic. On Larry Kudlow’s program,
there were people actually suggesting that people should buy financial stocks
despite the fact that they continue to lose value. Another words, this is a
signal that the establishment is selling the financial stocks and they need
suckers that will buy them.
With all of this financial turmoil, gold is rapidly
heading towards $1,000 at a time in which precious metals have historically
remained flat. This is a clear indication that people are losing more and
more confidence in the U.S. Dollar. Gold still remains undervalued relative
to oil and seems poised for a massive explosion in the next few months.
There is no doubt that the U.S. Dollar is heading
further and further into the toilet. While the European Central Bank raises
interest rates, the Federal Reserve continues to maintain interest rates,
which means the Euro is going to continue to rise against the U.S. Dollar.
Ben Bernanke, Hank Paulson and the rest of these criminals in Washington DC,
simply do not care about defending the value of the U.S. Dollar. These people
are more interested in consolidating power and ensuring that their banker
buddies on Wall Street don’t lose their shirts.
With everything that’s going on, the United
States could face a scenario similar to what happened to Argentina nearly a
decade ago. There is simply no good economic news regardless of how the pundits
in the media try to spin it. When the economy crashes the government will not
be there to help you because this financial crisis has been created
intentionally. When it finally unravels, the American people should demand
the heads of the policy makers at the U.S. Treasury and in the Federal
Reserve. These people have sold out this country through their criminal
economic policies.
Lee Rogers
Editor, Funny
Money Report
Lee Rogers edits the Funny
Money Report, whose object is to educate people
as to the frauds of our dishonest paper money system and to provide
information on stocks in the precious metal, base metal and assorted hard
asset sectors. You can subscribe to his newsletter by clicking here.
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