Bankers Launch Next Leg Of Planned Economic Collapse
Obama campaign blames the very people who sounded the alarm bell on the economy for the debt downgrade
Paul Joseph Watson & Alex Jones
Monday, August 8, 2011
The next leg of the planned economic collapse has now been launched with the stock market once again plunging as the Federal Reserve prepares to launch QE3, and it’s all part of the transfer of wealth from America to the offshore elite that we have been warning about for years.
As we highlighted over two years ago, shortly before Barack Obama declared the recession to be over and the stock market was artificially inflated once more, we warned that the next phase of the financial pillaging would bring about a “sucker’s rally,” with investors believing the hype about a non-existent “recovery” and ploughing all their money back into the system, only to see the rug pulled out from under their feet for a second time.
That forecast is now coming to fruition as the Dow loses over 300 points today to add to the massive downturn last week.
The effort by central banks globally to flood the system with cheap money never did anything to address the underlying problem of toxic debt and merely set the economy up for a greater implosion.
But the people who warned about the consequences of artificially inflating the financial system and have been proven correct are now being blamed for its downfall.
The Obama campaign, along with top Democrats, are now floating the rhetoric that Standard and Poor’s move to reduce the United States debt rating from AAA was a “tea party downgrade.”
“I believe this is, without question, the tea party downgrade,” Sen. John F. Kerry, Massachusetts Democrat, said on NBC’s “Meet the Press” yesterday. Former senior Obama advisor David Axelrod used the exact same phrase in blaming opponents of tax hikes for the debt downgrade.
However, the debt ceiling debate was nothing more than a complete distraction from the real cause of America’s economic crisis.