| dividend taxes will benefit anyone but the elite is ludicrous. Elite American Plutocrats have been attempting to eliminate this tax for decades. Dick Cheney announced to the Chamber of Commerce this week that the stimulus package would bring back the good times. I wonder whom he is referring to as the beneficiaries; obviously, this plan does not benefit the average American. The talking heads on the news channels pontificate that the electorate are not concerned about the budget deficit or the soaring national debt. We hear that these problems are not important. We can worry about them as some future date, or maybe they will just fade away through growth and prosperity. If we are not worried about these important issues, we should be! They are the major cause of the implosion of our economy, regardless of what you hear on CNBC. Also in the recent economic news are the latest statistics that the total number of Jobs continue to decrease, the unemployment rate remains high (it is actually much higher than their skewed reports). Union membership and negotiating power continues to diminish because of pressure from the Government and Corporations for concessions. Oil prices are spiraling upward due to the Imperialistic impulses of the Department of Defense. The net wealth of Americans continues to decrease, as workers are intimidated into borrowing via credit cards and mortgage refinancing to maintain their standard of living. The government repeatedly states that we need to assist the corporations, and this assistance will somehow benefit the working class. The eventual result will be a huge debtor class that will be ripe for repossessions and further decimation of our standard of living. Not surprisingly, the US Government and the mainstream media are hiding the truth about our current economic status. There is currently a major crisis developing in the US economy. The Federal Reserve Fiat currency is no longer recognized as a safe haven for international investors, and is poised for an unthinkable devaluation. It is unbelievable to me that our national Current Account Deficit has decreased from a positive $27 billion in 1975 to over negative $500 billion currently. The mainstream media does not dare report these statistics; they would be out of business the next day. This behavior is not new; the American public has been misled regarding our fiscal system since the inception of the Federal Reserve Act. The house that the International Bankers have built is crumbling. The supply-side, trickle-down economic theory in place since the Reagan administration has failed miserably. Economics is not rocket science, although the financial gurus would like you to believe only a member of Wall Street is capable of understanding financial markets. All it takes is an open mind, and a healthy dose of common sense to understand what is happening. Economic common sense tells us that our current dire fiscal situation came about by not adhering to a few basic financial principles. You should not spend money you do not have. Deficit spending has resulted in perennial budget deficits and over six trillion dollars of national debt. Approximately thirty percent of our tax dollars are transferred directly into the pockets of the International bankers via interest payments on this mountain of debt. The Federal Reserve encourages this behavior, and our representatives in Washington are spending money as fast as it is printed. The world’s most successful nation is broke, and extremely close to complete financial ruin. The Military Industrial complex has convinced the public with scare tactics that we must borrow and spend over three hundred billion dollars a year on the Military, even though there is no other nation on the face of the earth even close to being able to challenge us militarily. Income derived from financial manipulations (Services) is not as valuable to the national economic health as income derived from manufacturing goods. The trading of stocks, bonds, and other numerous financial instruments in the financial institutions generate large amounts of revenues by manipulating resources numerous times, creating false perceptions of revenue increases. This sector of our economy now represents over half of our Gross Domestic Product (GDP). When the government issues reports on the growth of the GDP, they are not reporting on actual increases of manufactured goods, as the public is being led to believe. Rather the majority of the GDP growth is due to financial manipulations, while the manufacturing sector of our economy steadily decreases. A healthy economy requires a sound manufacturing base. As John Maynard Keyes astutely observed “When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill done”. Unfortunately, the Globalists in control of the US economy are guilty of failure to adhere to these basic principles. Those who cannot remember the past are condemned to repeat it. “Wealth and Democracy” by Kevin Phillips describes how the Spanish, Dutch, and British have all fallen into this same trap prior to their collapse as World Financial powerhouses. I believe America is rapidly heading in this identical direction. Uncontrolled financial speculation historically precludes severe depressions. Excessive trading of Stock Margins, Futures, Derivatives, and Hedge Funds are examples of unbridled speculation. These revenues represent a large portion of our GDP, are completely non-productive, and will contribute to the implosion of the economy in the near future. A combination of laissez-faire economics and political corruption is a recipe for disaster. The mania over Internet and Communications technology is no different from the Railroad craze of the late nineteenth century. In the words of John Kenneth Galbraith, “The oldest rule of economics, for which I take credit, is that when someone says we have entered a new age of permanent prosperity, you should take cover. This has been said many, many times in the last three hundred years.” Unbridled speculation led to the recent downfall of major corporations such as Enron and Global Crossing. The executives of these corporations’ greed and arrogance became so excessive that they crossed the boundaries of corruption that are usually able to mask corporate corruption. I find it interesting that the loss of small investor’s holdings in 401K pension plans was well publicized, while the actual assets accumulated, such as international water and utility companies throughout the world, were siphoned off quietly by the corrupt executive officers, and have not been included in the bankruptcy proceedings. Where are these valuable holdings, and who controls them now? All you see for sale in the bankruptcy hearings is the crooked “E” sign. These events are another travesty of justice that continues to be unreported in the press. Another common feature of a corrupt economy is a widening gap between the rich and the poor. Healthy economies require a prosperous middle class. The greedy elites are once again in control, using federal regulations and shyster tactics to steal from the middle class in order to increase their riches. Beginning in the 1970’s, the actual purchasing power of the lower eighty percent of the population has steadily decreased, while the top 10 percent have increased their fortunes exponentially. The top 1% of the population now controls approximately 20% of US Personal Income! Our elected representatives have once again bowed to their masters on Wall Street, and supported this theft by deception through passing laws friendly to the corporations and detrimental to the average American. Declining Social Well-Being during times of Economic growth is a very disturbing trend of the current twenty-year cycle, and one not seen before in American economic history. Globalization is the driving force behind the destruction of our economy. Greedy corporations are shifting their manufacturing to third world countries where labor costs are a fraction of domestic labor. We have become a society dependent on services to produce revenue growth. The trade deficit is ballooning as we import most of the manufactured goods consumed. What many people are unaware of is that foreign interests now hold major ownership positions in some of our largest corporations. It should not be any surprise that these foreign owned corporations are the primary forces promoting Globalization. As Alex Jones says, “Who stands to gain?” Foreign interests have infiltrated our financial institutions and are now influencing the government to encourage Globalization that will benefit their native countries, to the detriment of the US economy. Why are our congressional representatives allowing foreign financiers to dictate our financial policy? These transformations of our economy are the root cause of our economic problems. Foreign governments and international corporations are holding our country hostage by threatening to withdraw their investment funds, and by doing so destroy our economy. Previously an international bastion of stability, US Treasury bills are quickly losing favor in the international community. This is causing our balance of payments to reflect imbalances never before experienced in this country. As Treasury bills fall out of favor, our creditors are demanding payments in gold. Most Americans believe that Fort Knox contains over thirty-two thousand tons of gold reserves. The sad truth is that the most current estimates state that our gold reserves have shrunk to as little as ten thousand tons. Long an indicator of instability, rising gold prices are early indicators of a faltering economy. Careful studying of gold sales reflects the fact that Wall Street institutions have been attempting to hold down the price of gold to cover short sales, and preserve their capital. Although this price manipulation has been successful in the past, their ability to manipulate gold prices is decreasing. Gold prices are rising steadily. England and the US have depleted their gold reserves due to this planned manipulation. As the world discovers this fact, expect gold prices to continue their upward trend. I would not be surprised to see the price of gold double by the end of the year. Who is buying gold in preparation for the upcoming crash? Current gold transactions reflect that members of the Council on Foreign Relations, Bilderberger Group, and the Trilateral Commission are now purchasing much of the world Gold supply. What do they know that is being withheld from the public? Another worrisome trend currently being implemented is the announcement that the Moslem countries are preparing to establish the Gold Dinar as their preferred trading currency, rather than US dollars. This could cause the failure of many of the world fiat currency systems created and operated by the Central Banks of the Group of Seven nations. The World Bank and International Monetary Fund would also be adversely affected by such an event. Could this possibly be the reason that America and Britain are so eager to go to war in the Middle East? These developments, and continued financing of large budget deficits, will result in flooding the world market with unwanted US Treasury notes. The obvious conclusion to this situation will be a major devaluation of the US dollar, coupled with runaway inflation. Without a strong manufacturing base to revert to, as we have relied upon in the past, the outlook for the future is indeed extremely murky. Let’s face the facts, folks. Our government has morphed into a single, huge financial holding company, governed by elite graduates of Groton, Yale, Harvard, and Princeton many of whom are members of secret societies including the Freemasons, and the Skull and Bones society of Yale. They govern according to precepts expounded by Darwin, “Survival of the Fittest”, promote severe corruption at the highest level, and suffer from a complete lack of social conscience and responsibility. Crony Capitalism and Monopolistic practices are the normal order of business. We are in serious trouble, and it is only going to get worse, unless we can prevail in our attempts to expose this extensive conspiracy. Could this economic turmoil be the next step in the plan of the New World Order? Will the result of this conflagration be a single central bank, and a new world currency, to “preserve and protect” civilization? Has this situation been designed and implemented by our infamous shadow government? What actions can we take to prepare for this upcoming disaster? My suggestions are to decrease your debt as much as possible. Do not fall into the familiar credit card trap made so acceptable by our society. Get out of the Stock Market. If you have any savings, invest in Gold. I do not mean gold stocks, purchase actual gold coins, and stockpile them for the coming depression. It is a distinct possibility that precious metals will be the only currency of value in the near future. The most important action we can take is to become active in our community. Get the word out. Let your representatives know that you are aware of the impending disaster. Talk to your family and friends. Send letters of protest to your congressional representatives. Speak out against this tyranny ------------------------------------- Contact the author at mschelstrate@msn.com. ------------------------------------- Permission to reprint this article is granted providing the original author is cited and a link to PRISON PLANET.com is included. The views expressed in this article may not necessarily be those of Alex Jones or Paul Joseph Watson. ------------------------------------- PRISON PLANET.com INFOWARS.com |
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| What We Are Not Being Told About The Economy By Mike Schelstrate The Bush Administration recently delivered to Congress their latest Economic Stimulus package. The Democratic version upstaged it by a day. Neither plan will assist in the recovery of the economy. What they both will do is continue to expand the budget deficit and widen the growing gap between rich and poor. Our representatives continue to pay off their corporate campaign contributors. The theory claimed by the Bush political machine that eliminating |
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