V – The Guerrilla Economist Updates:The Gangs of New York -7/19/13
SteveQuayle.com
Jul 19, 2013
As I began this new week and scanned the horizon of propaganda being passed these days as “news” and information. I stumbled onto a Bloomberg.com story on my Smart Phone that talked about a “financial recovery” and a positive looking employment numbers. I began to gander what country and on what planet are they referring to? Hmmm…lets put this straight. The Dollar is being summarily killed off as the apex currency of the world, our national debt counting entitlements like social security, Medicaid and the like are a whopping $67 trillion. According to the BIS (Bank of International Settlements, the central bank of all central banks) the world wide derivative debt bubble is hovering in the neighborhood of $640 trillion. Unemployment is sitting at a real 20% + as the government numbers do not count you once your passed the three month stage or if your underemployed; meaning, that you were full time but now can only find part-time work. So the question becomes, who the heck is recovering?
Just a few weeks ago Fed Chairman/ Crimeboss “Helicopter” Ben Bernanke told the U.S. and the world as a whole that the “Recession has ended”. Hmmm… now over the course of the last two years I have learned to decipher when Mr. Bernanke is lying. Which is pretty much whenever he opens his mouth. I mean maybe we should all just take his word for it? He is after all a strike out artist who has been wrong on just about everything.
I guess we are just supposed to put our head in the sand, whisper some positive affirmations and not notice that the Dollar is tanking, unemployment is still in avalanche status, and the ever weakening of Consumer Spending. Add that to a real estate market that is in rigor mortis, trillions in losses in the bank mark to model con job, off the book losses in derivatives pawned on customers after the idiots that be in their wonderful wisdom thought it prudent to rescind the Glass-Steagall act; thus creating the Derivative Death Star that will blow us to supernova with tune of $600 Trillion Plus (Using BIS estimates). That alone will vaporize financial markets and world banking systems. Once again thanks to the idiots that be, who thought it prudent to have total deregulation of the OTC derivatives via the Commodities Futures Modernization Act.
Oh let us not forget the ongoing money pits that is Iraq and Afghanistan, hundreds of banks that are set to fail, a bankrupt entitlements programs, FDIC running on Empty, the Fed printing trillions of dollars out of thin air, in secret without oversight or accountability; future multi-trillion dollar budget short falls thanks in part to a keeping a comatose economy on life support. International shipping and trade down 90% + as well as a credit market that is as frozen as a TV dinner. Now if that all sounds like a recovery to you or an end to the recession then I have a bridge in Brooklyn that I can sell you.
The same idiots who told you that everything was okay and that there is no recession are now the same morons who are seeing the light at the end of the tunnel? That’s how the media is playing this whole thing out. The reality is Main Street is a completely different world than Wall Street; for the average Joe, the cab driver, the contractor, the small business owner, the restraunteur, the college grad, there is no recovery. Everyone I had talked to, business is really off or they are on the verge of going out of business. Low pay, lousy jobs, losing jobs, can’t find a job….that is the reality of this “recovery”.
The rotting corpse of what was once the crown jewel in the global economy America, is now being covered up by various embalming ointments, glitter, shine and glimmer. Parfume de Media has been generously applied to cover the putrification of what was once the vaunted middle class now being decimated on a scale similar to terminal cancer working through a body’s organs.
The greatest crime in the history of the world is taking place right before our very own eyes and in broad daylight. Enter the Gangs of New York; more lawless than wild west desperados, more damaging than any mafia from any country and from any time frame. They are better organized than the Yakuza, more dangerous than the Chinese Triads and have more Cahones than the Italian Mafia. A ruthless mob of financial gangsters and political wise guys have taken over America.
It seems that not a week passes without news of some new Constitutional crime perpetrated by the Wall Street and Washington D.C. crime families. Had the crooks at large been average everyday names their stories would be front and center on every alphabet news channel in the country. There would be movies, pay-per views, HBO documentaries, Congressional Investigations, heck even Hollywood would jump on the organized crime bandwagon and would put out hits that would put GoodFellas, and The Godfather to shame.
Alas since the characters are White Shoe ( the term means a firm or organization that has been in power for over a century and represents the Fortune 500) Old World Bankster Families who run Wall Street the Federal Reserve and now the United States Treasury; their criminal racketeering was well concealed in political polite “White Shoe” Language. Instead of Extortion we have nice terms like “Credit Default Swaps”, Auction Rate Securities, “Special Investment Vehicles”, Collateralized debt obligations and the ever popular derivatives. The Gangs of New York pressed their bought for and compromised political stooges in D.C. to ramrod one-thousand page bills knowing that an illiterate and lazy Congress with enough pressure would pass anything before anyone with sense even got a chance to read it. TARP Funds, Bailouts, Buyouts, Rescue Plans, Stimulus Packages , Carbon Credits, Cap and Trade by whatever name, the greatest pilfering of a country’s generational wealth is taking place right before our very eyes. Almost everyone who saw it and blew the whistle called it “criminal” but Washington called it “legislation”.
By order of the President and Congress, Democans and Republicrats alike decreed that the all living and about to be born Americans and their descendents for generations would be responsible for all the bad bets made by the Gangs of New York and the Cartels that were titled “too big to fail”. They have privatized the profits and socialized the risks.
The Gangs from New York and their minions used the same old tired fear mongering that we have been accustomed to under the eight years of Dubbya. Instead of the people being told about Weapons of Mass Destruction, links to Al-CIAeda and Mushroom clouds. They were told of imminent financial ruin, anarchy in the streets and even some Congressmen were threatened with Martiall Law if they did not pass the bills. The pretense was different but the game is the same; just as we were force induced into a war with Saddam before anyone got a chance to verify that there were any weapons of mass destruction or Al-CIAeda links. So to were we forced induced into supporting the “too big to fail” just incase they did fail. As a student of history, there is always one thing that I see prevalent in every major crisis; and that is facts get twisted to support the agenda.
The Washington D.C. and New York crime families used the same fear trump card that they have used under the Bush administration, but now with Obama the fervor has been turned up a notch or two. Someone please explain to me why the American taxpayer is paying to bailout companies that have put themselves in the hole by making bad bets? Crime Boss Ben “Helicopter” Bernanke and Obama have used the “ What should I do when my neighbors house is on fire analogy” in various congressional hearings and gatherings. Talk about a tepid, fraudulent and puerile explanation of a financial maelstrom; one that is taken and accepted by the Media Flapper whores without question. A media apparatus that serves the state and peddles the aforementioned drivel to the public at large as the “Logic from the wise”. Just ask yourself this question, what if the “too big to fail” actually failed? Well in back in September 15th 2008 one of them actually did. The prestigious firm Lehman Brothers went bust when it could no longer cover it’s gambling debts, creating the biggest bankruptcy in American history. $691 Billion to be exact.
When it happened the markets went reeling like a drunken frat boy in a college party but the sun came out, the birds sang, food did not stop growing and the free market principles kicked in and the market stabilized. There was never any real fear of “too big to fail” it was a carefully contrived ruse, a scare tactic, the “made men” from New York crying wolf to siphon funds from the American people to pay for their compulsive gambling habits that they call “market speculation”. Got to love it, Big Government propping up Big Losers; successive money fixes and a fool’s rally that is only postponing the inevitable.
We are at a point where we are damned if we do and damned if we don’t. The proverbial “rock and a hardplace.” Capital continues to leave the country at an alarming rate, which telegraphs to me that interest rates should be raised. Now with all the “quantitative easing” (Printing Money out if thin air) that the Fed is doing, the monetizing and such which leads me to think that we are on the verge of what many experts are calling a dollar crisis. There is no question in my mind that the dollar is going to be sacrificed. Think about it. We have hundreds of trillions in dollar denominated derivative debt, that are still in the system and still categorized as “toxic assets”. This is a major systemic problem that needs to be fixed and it cannot be done without out drastic monetary and fiscal overhaul. Translation: The dollar is done as the world’s reserve currency and we are going to be coerced in falling in line with the New Financial World Order, one in which the US will participate not as an economically powerful independent nation; but a subservient lackey to a faceless globalist bureaucracy based in Basel, Switzerland.
I will also state that the dollar will not be replaced by the now defunct Amero, but by another dollar and I can see it emerging may by 2014 or 2015. Debt in the banking system is going to be macrophaged by the Fed as almost all banks are bankrupt, in the next 90 days I predict a second round of debt write offs and another crisis in the derivative market. Now if the debt is not monetized the whole debt system that we have been fooling ourselves with will collapse. Our Financial system is totally unsustainable and our foreign escapades of spreading democracy and freedom by bombing 2nd world countries into the stone age is not working out so well.
What we have witnessed is a gang-rape of America by The Gangs of New York and the Washington crime syndicate. Two Generations of wealth have been wiped out and I will let you in on a little secret; wealth can never be destroyed; it is always TRANSFERRED. I predict in the next coming months and years we will begin to see America’s death and decline as a world Superpower, we will be integrated into a nefarious global government system. The First of this is was the planned deindustrialization of America and the snow job that was brainwashed into the people that we are a “consumer economy”. We have bought that lie, hook, line and sinker. Ignorant of the fact that historically the wealth of a nation is created on the Factory floor. Ignorant of the fact that the Central Bank Concept (With dates back thousands of years to the ancient Sumerians) has never worked. That the only way it goes in reality as a opposed to the paper practical, is a continued creation of debt bubbles and credit (debt) expansion. Now the time has come and it is time to pay the piper.
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“V”
The Guerrilla Economist
