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Mortgage Giants’ Collapse Could Herald 1930’s Style Depression
Paul Joseph Watson
Prison Planet
Monday, July 14, 2008
Veteran London Times journalist William Rees-Mogg predicts that the collapse of U.S. mortgage giants Fannie Mae and Freddie Mac could herald a downturn into a 1930’s style depression that threatens to sweep away democratic governments.
Rees-Mogg served as editor of The Times, Britain’s oldest surviving newspaper, from 1967 to 1981, and currently sits in the House of Lords.
In his column today, Rees-Mogg states that the world economy is not just entering an economic recession, but a depression comparable with the great crash of 1929 and its 10-year aftermath.
(ARTICLE CONTINUES BELOW)
Tracing the origins of the crisis back to the dot-com bust at the end of the 1990’s, Rees-Mogg writes that stock markets are so ravaged that they will not recover to their 2007 levels until at least 2032.
“This recession has produced a succession of nasty surprises. Things are always proving to be worse than anyone had expected. Last week the crisis spread to the American mortgage giants Fannie Mae and Freddie Mac, created by President Roosevelt in 1938,” writes Rees-Mogg.
“These are far bigger than the investment bank Bear Stearns and Northern Rock put together. They have brought the crisis from the level of billions of dollars, to the level of trillions. No doubt they will be saved because the US would be bust if they went down. But you cannot save six- trillion-dollar institutions without suffering on a large scale.”
Ominously, Rees-Mogg foresees “A momentum of negative events sweeping away financial flood defences; in the 1930s that force overturned democratic governments as easily as it overturned banks.
The veteran journalist is referring to the 1930’s hyper-inflation crisis in Germany, which led to the destruction of the Weimar Republic and the rise of Adolf Hitler.
“Before we get back to balance, we may see dramatic changes in politics, as well as in business and finance,” Rees-Mogg concludes.
The veteran journalist’s warning comes on the back of news that “U.S. regulators are bracing for dozens of American banks to fail over the next year.”
According to an International Herald Tribune report, “Troubles are growing so rapidly at some small and midsize banks that as many as 150 out of the 7,500 banks nationwide could fail over the next 12 to 18 months.”
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63 Responses to “Mortgage Giants’ Collapse Could Herald 1930’s Style Depression”
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July 14th, 2008 at 5:24 am
This may be the perfect storm: quagmires in Iraq and Afghanistan, a full-blown escalation with Iran and on top of it a total economic meltdown and depression.
This time, the Hitler will rise from Washington DC, enthroned by NSPDD 51 and led by the bankers. He may even be a black one, it doesn´t matter.
50 million starving Americans will gladly join the Homeland Security Wehrmacht and march against China and Russia…
After WWIII, with 1-3 billion dead, you´ll get your world government.
But a lot can go wrong on that path, US Forces can rebel, arrest the puppet dictator and reinstall the Republic. Anyway, prepare yourself for the worst.
July 14th, 2008 at 5:28 am
“US Forces can rebel, arrest the puppet dictator and reinstall the Republic.”
I’ll keep dreaming and praying for this.
July 14th, 2008 at 5:37 am
So much for fractural reserve banking , it bet all the big banks are getting there money out the stock market .
July 14th, 2008 at 5:48 am
The truth will not be denied.
Just like the Afghanistan & Iraq wars…THIS DEPRESSION WAS PLANNED!
The Bankrupting Of America was planned.
The NEW WORLD ORDER is responsible.
If we are all killed today in a nuclear exchange we will go to our demise knowing this!
July 14th, 2008 at 6:00 am
Here in New Zealand it is astounding how few people understand the global situation, I have ony met a small handful of people who can see what is happening, I even heard one of our economists talking on the radio yesterday saying that NZ is not like the rest of the world especially the US & UK because those economies have grown due to cheap credit fuelling consumer spending & housing!! Unbelievable! that is exactly what has fuelled our economic growth & we are no different. And these people are paid for their expert opinions? A strange world indeed.
July 14th, 2008 at 6:10 am
I am so ready
July 14th, 2008 at 6:48 am
Hitler won’t rise from D.C., he is already in D.C.! 4th Reich has troops in 130 of 190 countries. Hitler had troops in fewer than a half dozen countries? And Hitler was financed by Prescott Bush (W’s grandpa) and airforce was fueled by Rockerfeller (Standard Oil, now Exxon, guess xx should mean perversion), so the same families are still involved. Same Banking System http://www.conspiracyarchive.c.....Fadden.htm < that was being indited in 1934 is still in place also. History is repeating itself, but ball has gotten bigger and world smaller. We all have to be Paul Revere of 21st Century if this to stop! http://www.watch.pair.com/reich.html
July 14th, 2008 at 7:22 am
Get your money out now! And buy some gold!
July 14th, 2008 at 7:37 am
Tracing the origins of the crisis back to the dot-com bust at the end of the 1990’s is a load of bollocks. The reason for the current crisis is corporate criminals whose greed is not tempered anymore by complicit, easily bribed politicians.
Greenspan and the FED created one artificial bubble after another by means of cheap credit. This way the middle-class did not rebel against the kleptocratic ‘elites’, since they believed that their wealth and purchasing power was also increased. The fundamental difference was that the rich and very rich used the cheap money to obtain real assets with a true value while the middle-class was only allowed to spent their future earnings.
Now the very and the filthy rich will be able to buy all that real property from the middle class for a few cents the dollar. The middle class has gone broke and is to occupied with financial problems to side with the working class against those rapacious industrials and bankers who are enslaving and robbing them.
July 14th, 2008 at 7:54 am
Ya’ll should get a grip.
July 14th, 2008 at 7:59 am
I agree with Orlandoblkman, these are no coincidences and the timing is ripe prior to the elections for the dictator to rise. I think Bush is going to try to hang on to leadership and revoke the Constitution declaring Marshall law. The criminals have no plans to leave office.
July 14th, 2008 at 8:05 am
These MEDIA INDUCED FRENZIES have gone on since the 50’s, maybe earlier. Just this morning on the news BOTH of these mortgage companies stated they DO NOT NEED the governemtn’s money (our money) – that they have plenty of money. The U.S. is not in a recession, judinging by the fact every Apple Store and AT&T store had lines 100+ just to buy an Apple iPhone last Friday (ridiculous). I realize people are overall mindless sheep and Tom Delay (posted here) is right, buy gold and silver. Ammunition. People are going to freak-just think of katrina and the idiots stealing televions and furhtermore the police Gestapoesque reactions there, at the floods in Iowa, at WTO in Seattle a few years ago. It could get scary but it would be nice if the freakin’ media would stop fanning the fire with false facts…drama sells, I guess the truth does not.
July 14th, 2008 at 8:07 am
I also agree with C.M. I think Bush will use this as a stepping stone to maintain his reign as “king”. Hopefully all of the hype about the FEMA concentration camps is just that, hype.
July 14th, 2008 at 8:13 am
This was all foretold over 2,000 years ago in the Bible. Jesus Christ is the way, the truth and the life. Have faith in Him and then maybe this time will seem more like an adventure movie with a happy ending.
July 14th, 2008 at 8:22 am
The day after, Obama wins the election, if he does, the media will take the same numbers and report of a great rise in consumer confidence and the heralding of a new great age of prosperity.
July 14th, 2008 at 8:25 am
Karen, why do you people always have to bring the Bible into it.
The Bible says nothing about the economic slowdown.I have bad news for you, you will have to work for a living, suffer through good and bad , lose your parents, raise you kids and die an old person in a hospital. Jesus is not coming to get you out of living.
July 14th, 2008 at 8:25 am
Most ordinary citizens of the United States are just now waking up to the sad fact that their government, and the massive corporations that own it, do not give a rat’s behind about the ordinary citizen. The only hope is that those citizens will pull together and improve their lives- by developing non-gasoline cars, growing their own gardens, and so on. The days ahead will be difficult but once Americans empower themselves, then they can bring their government to heel.
July 14th, 2008 at 8:30 am
America will be alright in the long run, but the economic collapse of the world is upon us. If we cast off the bankers, politicians and clergy, we will be alright. Remember possession is 9/10 of the law. Don’t give up your houses, don’t give up your cars, just hang on to your property and protect your neighbors. Be sure not to give up your guns. A lot of the sheeple will have to die, but that’s what this country has to do every once in a while. Remember, this fight is about liberty, the enemy are, the bankers.
July 14th, 2008 at 8:47 am
When will we realize WHO the cause of these problems are and the fact that they were engineered on purpose. Very soon we will be faced with a choice – be enslaved by the jews or round them up and throw them in a camp (not a death camp – there was never any such thing).
Read the protocols of the elders of zion – this is part of their master plan. By controlling money they can create this kind of collapse, and buy everything for 1/2 penny on the dollar, since they control all the gold.
July 14th, 2008 at 8:52 am
The FEMA camps are not hype. There is at least 1 in every state. I was talking to a family member about it who has been a marine for 15 years and he told me that they are more real then I think they are and that when the time comes I should just do what they say or my family and I will be put into one. He said they do horrible, unspeakable things there. He said it makes abu ghraib prison look like summer camp.
July 14th, 2008 at 8:55 am
I don’t care just as long as I still have lunch money. As Hendrix said, “Fall mountain, just don’t fall on me.”
July 14th, 2008 at 9:03 am
Deep Red…
The persistent inability to change one’s views when confronted with solid proofs that those views are in error is one of the key, defining characteristics of mental illness and/or personality disorder
No need to worry, Red..there will be “work” for us…the military will have plenty of recruits to choose from if we sink into a depression….
July 14th, 2008 at 9:51 am
I believe that the FEMA camps are not hype, I just hope that that fellow Americans do not react the way they are instructed if it comes to that. There are over 800 camps documented in the continental US and AK…but I have never heard of military involvement, only Homeland Security & Halliburton.
I strongly agree with Max Fortres, the sheeple need to go – but to throw hate at certain cultures or religous groups is not necessary. Politicans and bankers, on the other hand, is warranted and can be backed by fact-
July 14th, 2008 at 9:51 am
I heard massive amounts of people in California are already living in their cars. When I saw the pictures of the FEMA prison trains complete with shackles, it was a shot between the eyes. My friend Jeff saw a bunch of the cars on Rt5 near NYC. It’s not our imagination, the financial collapse is engineered, just like in 1929. You’ll better get your bugout plans in place
July 14th, 2008 at 10:37 am
Lord Jesus Christ
VS.
New World Order
The war between God and the Devil already has started.
And you must never give up, all for God’s sake.
July 14th, 2008 at 11:06 am
There are so many of you weaklings out there…”Don’t fight back”, “you’re a fear monger”, “I don’t care”…I wish that there was a way of MARKING you on your Foreheads (but in a kind and gentle way, of course!!) so that when the Fit Hits The Shan and us REAL MEN have to fight our asses off for the freedoms that you Sissies don’t seem to care about, well, we can either slap you stupid or run your ass out of this Country alongside of these Traitorous Politicians and Elitist Bankers that might somehow evade the Gallows that they deserve.
July 14th, 2008 at 11:20 am
Wake up people and start planning today. Be strong and stand against the new world order. Stop being scared and EDUCATE YOURSELVES IMMEDIATELY!
July 14th, 2008 at 11:39 am
@Sasuke,
That war started a long time ago. This latest round is just moving into the very last battles of the final stage of the war’s execution. The final stage began when God started the Renaissance, Reformation, and Enlightenment (although about half of the ideas from this period came from the evil one).
These very last battles of this final stage are marked by the beginning of a strong counter-offensive from the New World Order.
BTW, the outcome of the battle is already assured and the destruction of the NWO (John the Revelator’s “Whore of all the Earth”) has been irrevocably decreed with Authority and Great Power.
July 14th, 2008 at 11:51 am
In 2003 The Financial times of London stated clearly. The U.S. would encounter a depression in 2009. The International banks are just moveing thru a global business plan. Wait till you must work off your credit card debts under rex 84 new fema camps. Its all over. My advice go south. In south america atleast you have a chance to grow food and have a normal life. The ecuadorian hills are remote and fertile. If you leave soon enough.
July 14th, 2008 at 11:54 am
Mission accomplished!
Now let the finger pointing begin as a diversion while we slide into utter economic meltdown.
If you haven’t already, it might be a good time to stock up on camping gear, water, food, and other survival gear.
The insane morons should be releasing the virus at the end of the Olympics. Martial law should be declared by October.
Get ready. Get set. Run for your lives!
July 14th, 2008 at 12:04 pm
All they need to do is sell off the real estate collateral (at realistic prices, which would be nice for a change) and just write off the lost “funny money” to inflation. It’s a mess, but the 1930’s was deflation – & this time it’s inflation. The scenarios are completely different.
July 14th, 2008 at 12:06 pm
well how much worse can it get…
fuel will go up… food will go up… tax will go up….
it will be interesting to see how people will be able to cope…
people will riot,,, what else is there to do…
July 14th, 2008 at 12:24 pm
Some of you people are either “Plants” or are just legally stupid. “Media Induced Frenzies” you say!! Jesus, have you been in a coma or have you bumped your head? What are you on this page for…what is your name…Tariq Aziz? If you are actually stupid enough to be reading the Mainstream News, what the Hell are you doing here, Dummy! I guess you’re trying to convince people to roll-over and give up their Guns and Ammo BEFORE pleading for “payments” to pay off these Bullshit Debts to the Elitist Bankers, British Israel, Wall Street; etc! Anyone who pays these Debts is a Damn Sissy–let them come and get it!! And why don’t you Damn Sissies stay in your own yard…you know, someplace like moveon.org or some other Leftist P2 web site!
July 14th, 2008 at 12:55 pm
Wow this story is nuts, The New World Order really fucked up on this one. The recent economical developments threaten even the illuminati themselves.
July 14th, 2008 at 12:59 pm
Hey “Deep Red”…who are you, Beevis (sp?) or Butthead? How very clever of you! If you actually have a comment or an opinion, Mr. Voltaire…just raise your hand and spit it out there Bubba, but DO try and keep it on an adult level. These are important subjects that will effect every Right and Privilege that our ancestors sacrificed their lives to secure for us–not a small or an insignificant matter! Alternatively, you CAN just sit in the back of the Class and make farting noises and giggle like a little girl!
July 14th, 2008 at 1:00 pm
there will be no resistance, to speak of… sadly I’ve concluded that we are all a bunch of lapdogs that can do nothing but bite the hand that feeds… overhyped and underestimated, this new world economy, with the falling value of the $, is going to be a much worse place than if we salvage and fix this. I have nothing invested in keeping the current US Admin pro quo, but I do have a lot invested in feeding my kids and taking care of aging parents; the last thing this anti-conformist wants is a mad max paradigm… if the $ falls, THE WHOLE WORLD GOES WITH IT!
July 14th, 2008 at 1:11 pm
dont believe the hype, it helps to hurt us…
dont get me wrong, I’m ready for ANYTHING, but all the terror posturing does nothing to help
“Analysts: Most banks are safe
Despite collapse of IndyMac, veteran analysts say banking system is in better shape than it was during the S&L crisis and don’t expect historic wave of failures.
http://money.cnn.com/2008/07/1.....2008071415 (2008, July 14th, 14:08 MST)
“…Ladenburg Thalmann analyst Richard Bove wrote that the banking sector is “not anywhere near the danger” seen nearly two decades ago. He pointed out that the number of non-performing assets compared to the number of outstanding loans remain just a fraction of the levels during the early 1990s.
At that time, roughly 1,500 institutions were on the FDIC so-called “problem list” of banks considered at risk of failure.
That’s a far cry from today’s environment.”
July 14th, 2008 at 1:13 pm
dont believe the hype, it helps to hurt us…
dont get me wrong, I’m ready for ANYTHING, but all the terror posturing does nothing to help
“Analysts: Most banks are safe
Despite collapse of IndyMac, veteran analysts say banking system is in better shape than it was during the S&L crisis and don’t expect historic wave of failures.
http://money.cnn.com/2008/07/1.....2008071415 (2008, July 14th, 14:08 MST)
“…Ladenburg Thalmann analyst Richard Bove wrote that the banking sector is “not anywhere near the danger” seen nearly two decades ago. He pointed out that the number of non-performing assets compared to the number of outstanding loans remain just a fraction of the levels during the early 1990s.
At that time, roughly 1,500 institutions were on the FDIC so-called “problem list” of banks considered at risk of failure.
That’s a far cry from today’s environment.”
July 14th, 2008 at 1:14 pm
“We, the people, of the United States of America, in order to form a more perfect union…” …. have turned control over to the evils of the world.
People, wake up! You are invited to come discuss this, and more, at this secure, private forum:
https://www.intl-alliance.com/forum/index.php
This is a new, very rapidly growing discussion form which needs your knowledge and views that you have to share.
Come share, learn, participate in the fastest growing, best hosted forum on the evil government activities going on today.
You won’t be sorry you came.
Thank you!
July 14th, 2008 at 2:23 pm
Quote from Sasuke:
Lord Jesus Christ
VS.
New World Order
The war between God and the Devil already has started.
And you must never give up, all for God’s sake.
Hmmmm, kinda has a ring to it. You know like “Your with us, or you’re with the terrorists” Bush utterance. I remember that having the reverse intended effect too. I was firmly with the freedom fighters, and not the squinty eyed puppet. It bothers me that extreme Christian groups will be ready to capitalize on this, even though I’m all for showing their Anti-Christian nature, mainly because it shows them as liars about that too.
There is a 3rd way.
Abandon all that which has been dragging mankind down since he was of age to begin scribing.
Ditch all the religious sects, Pagan sects, Freemasons, Cults……..the lot of them. Start anew. Call it nothing but human. Enlighten our children, instead of instilling bigotry and hatred into them. Get rid of Royalty. No human should be considered superior by birthright.
I’ve always found it strange that Bible preaches to accept the people in power as divinely ordained, or there because of God’s will. And to go against that is to go against God.
And in other parts of the Bible you can learn how Satan tempted Christ with all the kingdoms of the Earth. Therefore, like the bible says repeatedly the world is firmly in the palm of Satan. They are his kingdoms, because Gods kingdom is heaven. Yet we are to sit and be governed by Satans minions because that is Gods will. Yeah its double speak alright. oppose the devil but not his approved human demons. You will get Christians saying no Satan is not the ruler of the earth, yet how could Satan tempt Christ with something that he didn’t own. The Bible was long understood as telling us Satan ruled the whole Earth. Its been twisted to suit modern life, interpretation. After all much of it is so hard to justify. Slavery. How to be a good slave.
You can bet your bottom dollar, for whaterver that’s worth nowadays that religous groups are at the centre of manipulating governments and government institutions. I remember having to listen to the garbage twice a week at school. Religious Education. Or fantastic unbelievable story hour, as most of us thought of it.
July 14th, 2008 at 4:10 pm
@ WhatRepublic: As a kid I regarded the Darwinian mythology as “fantastic unbelievable story hour” myself. Whatever worked to create the human mind is more than a mere mind. Simple as that.
July 14th, 2008 at 6:00 pm
Those who came in here telling this scenario is not a troublesome must be people from the government disguised by simple fellow, anyone with a little of intelect will know they came here everyday to try to kill this site and our understand of economy and Machiavellian politics in US and Europe. If there is nothing to worry aboout US economy why should the governmaent bail out banks? and put more strain on the nation pockets? It is ridiculously stupid to think that the USA economy is alright and swiming on monies, and everything is going to be fine in the end. It look more like Bush and MaCain’s senseless speaches about the economy.
July 14th, 2008 at 6:02 pm
Spa MMer,
Actually I was trying to say that the “real” war of the New World Order has just started.
Let’s get ready for this…
July 14th, 2008 at 6:56 pm
Apathy is pointing out the crises of the 90’s that basically nobody even knew about. That problem was similar as what we have today; bank insolvency. However, Greenspan bailed the banks out by dramatically deregulating securities and blowing up the derivatives market into the trillions to counteract the bank insolvency. That combined with the tech bubble of the late 90’s (spurned by many nefarious institutions such as MCI World com etc.) had kept the market afloat. Then came the plunge in 2000. To handle this, as a last ditch effort, Greenspan again “mortgaged” our future by reducing the interest rate to almost zero, which allowed the hyper expansion of the real estate market in the U.S. which basically most of the world’s economy was dependent upon. Now that the real estate turkey as come home to roost, we are finished. Unless they create another bubble (impossible) or change the system itself (let the security garbage fall and put the banks under Federal protection the way FDR did) the entire world, rich, poor, middle class, whatever will be standing in bread lines or growing their own food, or dying. So apathy, the “hype” ie, situation is the same as in the 90’s. The difference is that there is NO NEW BUBBLE TO BE CREATED.
July 14th, 2008 at 7:08 pm
The enterpreneur spirit in our country will be challenged for some dramatic changes in our American way of life! Already seeing great relief in some parts of the country with regard to volunteer medical professionals helping thousands of under or no insurance in the south. This culture- spiritual war underway will require innovative solutions to this ongoing recession and repression. I’ll be armed to the teeth should any stupidity arise from this conflict. Would anyone would like to respond?
July 14th, 2008 at 7:10 pm
The enterpreneur spirit in our country will be challenged for some dramatic changes in our American way of life! Already seeing great relief in some parts of the country with regard to volunteer medical professionals helping thousands of under or no insurance in the south. This culture- spiritual war underway will require innovative solutions to this ongoing recession and repression. I’ll be armed to the teeth should any stupidity arise from this conflict. Would anyone would like to respond?
July 14th, 2008 at 7:27 pm
If you’re ready to be paid in PESOS…just keep sitting in front of that dummy box, sipping swill and supporting the Monkey-In-Chief.
If NOT…GET OFF YER ASS!
July 14th, 2008 at 9:12 pm
Be scared people! Be very scared!
This is such bullshit. Fear mongering is the most disempowering form for change. Alex Jones uses the same methods he criticizes the mainstream media for participating in.
1)Has America(And Canada)’s hyper consumerism and over spending hurt the economy? Yes
2)Can the stock market collapse and can the world go into an economic depression? Yes.
3)Did the world do this once before and was it able to recover? YES!!!!!!
Scaring people into submission of your beliefs is a manipulative fascist technique.
As human beings, we are able to overcome any problem. It is only when we believe we cannot achieve, that we don’t.
Don’t live your life in fear. When problems arise, let your beautiful creative brain find healthy and powerful solutions that help not only yourself, but others. Be mindful of your power as a human being and live your life with zest and optimism.
July 14th, 2008 at 11:10 pm
“Oh, I see how it is. My money is green, but my skin is black.”
-some cool movie
July 14th, 2008 at 11:13 pm
Disagree with alex jones all you like but he didnt bring this on , deriatives in the red for fannie mae and freddie mac are 453 trillion plus each in the red that is a fact feds PR wont stop the fall period a deriative exposure will steam roll any thing det up to prevent it fed auction rates will not stop anything Indy mac was just one JPmorgan & chase are 117 trillion in red,there are many more whose assets wont cover 98% deriatives, alex jones is only bringing up what is already there, recommend you find out out about M3 and comptroller reports if you can get them, SEC reports, board minutes, off records communications, CEO stock sells not Public MACDs,RSI, stock indexs ,, start tracking get several SATs watch the wires live Read the COMMOs ts all there to see ,, many people refuse to believe they can be done wrong,, look at the carry trades by federal reserves to and from abroad, Gold Deriavtives Irest my case
July 14th, 2008 at 11:50 pm
First of all, Alex isn’t the only person talking a/b this. Do a google search on “another depression” and see what you find. At that rate, go to youtube and see what comes up! It’s real, ppl, and it’s coming fast. All we can do at this point is pray that we are protected during it all, and prepare ourselves as much as we can mentally & physically. There are LOADS of Economists that also say the same thing that this article says. It’s not something that has been thought up for the sake of “FEARMONGERING”. That is ridiculous.
July 14th, 2008 at 11:58 pm
Grant Koivula said:
“Don’t live your life in fear. When problems arise, let your beautiful creative brain find healthy and powerful solutions that help not only yourself, but others. Be mindful of your power as a human being and live your life with zest and optimism.”
Well Grant – do you have anything zesty to say about martial law and the Fema camps? I am sorry but I AM afraid. Is that OK with you? I think Alex is too. So what! Let’s be about informing everyone and getting prepared. Some of us can be afraid and you can be optimistic “Yeah a depression is coming – Yeah bird flu!” But please Grant – do’t waste time attacking Alex or those like myself who have a normal response to insanity.
July 15th, 2008 at 1:39 am
how about we just go there to their little hide outs and take them out like the founding fathers originally said (Thomas Jefferson), “The tree of liberty has to be replenished with the blood of tyrants and patriots from time to time.” Anyone remember that beautiful quote from college Argumentation? I sure do and I believe in it. Thomas Jefferson and those old, long dead, racist white guys didn’t mean go and vote, they meant go and drag them from under their cochroach nests and do away with them (The “founding White fathers” did have 1 good idea about America if nothing else despite their slave-owning hypocracy). A revolution is brewing in the hearts and minds of people everywhere. People are getting tired to being abused, pushed around, mistreated, lied to, unjustly taxed, illegally searched and arrested. It’s time to formulate the People, the unity, and spirits of humanity and knock down these devilish inhuman policies, institutions, and war-profiteers and reinstate the Bill of Rights to all Americans. Furthermore, leave international, internal governance be as other nations want it to be. America has no right to be the “democracy giver” (aka Neo-con propaganda) to the entire world. No one asked for it and no one else needs it.
July 15th, 2008 at 7:18 am
In the last “great depression”, gold was called in, and the country went over to a system of monetized debt, which had been creeping up since the creation of the Federal Reserve System in 1913. With the call in and revaluation of gold in 1933, followed by the abrogation of the gold standard via HJR 192, the US was officially bankrupt. The form of bankruptcy was a receivership. This is a “chapter 11″ or “chapter 13″ bankruptcy, that is, not a complete bankruptcy.
TWA did this several times. K-Mart did this. So have other corporations. In the event that a corporation is basically sound except for having over extended, the creditors step in and dictate how things will be run. Parts of the corporation might be sold off, certain people get fired, others get brought onboard, stock sometimes is consolidated. In some cases, the corporation will become healthy again, pay off its debt, etc.
But in other cases, the condition worsens, and the bankruptcy proceeds to its final phase, known as a “chapter 7″, which is a total foreclosure. Alex Jones keeps saying “we are going into a receivership” but he is wrong on that point, I’m sure just a matter of misunderstanding a few words, and I’m sure that what he means to say is that we are going into a foreclosure.
TWA eventually went into that final phase of bankruptcy, following in the footsteps of Eastern Airlines and PanAm. Their routes were sold off, their planes were sold off, their terminal buildings were sold off, their corporate HQ buildings were sold off, etc. Creditors were paid, stock holders were phugged.
With the bankruptcy of the corporate entity known as the United States, it was known sometime in the late 1930’s that the bankruptcy would proceed to its final phase. The process has been a long, ongoing one now for at least 75 years. Some of the significant events have been the enumeration of all of their “human resource assets”, i.e., social security, income tax withholding on the job, an end to silver coinage in the mid 60’s, an ongoing, unfavorable balance of trade, the exporting of American industrial might (at its peak shortly after WWII), the continual erosion of our liberties, the JFK/MLK/RFK shootings, the “leveraging of America” during the Reagan years, the wholesale exporting of our country’s vital assets during the Clinton years, privatization of water resourses and roads, 9-11 and the phase-in of a new system of law with the USA PATRIOT Act, and now the wholesale destruction of the dollar/the middle class/home ownership. So what’s next?
At a minimum, there will be a deepening of the recession. There will be a depression, it’s a matter of exactly when and how bad will it be. Salvation will be offered in the form of a merger of North American currencies, i.e., the Looney, the Dollar, and the Peso, into the Amero, which, we will be told, will be needed to compete against the Euro/European Union and that it will be a “good thing” and make us “competitive” again. This will be followed in quick succession by a number of other currency mergers, until finally there will be a single currency, planet wide.
I believe that the final unit of currency will NOT be a unit of monetized debt, but, rather, what will be monetized will be the carbon credit, that is, each unit of currency will be a license to put a specific weight of carbon into the atmosphere. For instance, a single carbon credit may translate to 1 metric ton of carbon, whearas the Phoenix, or whatever the final currency unit is called, may translate into .001 carbon credit, or a permission to put 1kg of carbon into the atmosphere. Or it may be, say, 10 grams. Whatever. The bottom line is this … what the “creditors” want is total control, and the monetization of the carbon credit will give them this. If you buy into this scheme, you have agreed to have your right to breathe converted into a privilege granted by the creditor.
When the American people were converted from free human beings into indentured serfs via income tax withholding on the job, the controllers/masters/creditors did so on a legal basis, by first sucking everyone into a “totally voluntary program” known as social security. In order to fully posess/own their “human resource assets” there will be some other legal connection that we will all “voluntarily” agree to. Ultimately this will be “the mark”.
Anyways, the only game in town right now is survival and resistance. Now is the time to consider the how’s and why’s.
Pete
July 15th, 2008 at 5:40 pm
I would agree with your notion of “fear mongering” if it were not for the fact that the agenda for a new world order is so blatantly obvious at this point that anyone with half a brain and two functioning eyeballs should see the overwhelming evidence of such. Stock markets are not controlled by market forces, they are controlled by very powerful bankers; and when they collapse it will be by design and the recovery will not be one which will afford populations to recover and move on with their lives. If you believe Alex is using “fascist” techniques then you must know the technique well; as you have said: “Scaring people into submission of your beliefs is a manipulative fascist technique”. If you can discern that Alex is doing that on a small scale, but yet you make no mention of that same technique, which is clearly being done on a grand scale then your eyes are wide shut. What power to you really have as a human being against the juggernaut that is the NWO? I challenge you to be the first to use your “beautiful creative brain” to find a solution to combat an agenda, which has been in the making since before you existed, and is so interlocked and so well-established that the very moment you believe you are making progress you find that you are merely squirming freely within a giant web. It pays to have friends who sacrifice their lives to bring real information and truth where it is needed, and to lay it at the feet of ordinary human beings. To criticize without an honest and in-depth investigation into the facts presented is an affront to the hard work and dedication of many fine folk like Alex who are doing their utmost to ensure you do not go down without a fight. You’re scared of what Alex is doing? Well, you haven’t even begin to see things for what they really are; and you’re scared of the wrong people.
July 16th, 2008 at 3:46 am
well expect a war…..
looks like america is in 8 trillion dollars of debt…..
well who do you owe all that money to…. other countries…..
someone wants there money….. they loaned you and loaned you and now it’s time to pay up….. if you don’t pay, then the dollar will go bust…
so what does the goverment do…. they need money to pay the debt and there is not enough to pay….. well the goverment has to rob a country of it’s wealth,,,, they got iraq…. but thats not enough… the real goldmine is iran….
but the problem is…. iran has 70 million people gaurding that trillions of dollars in oil….
iran is 3 times bigger then iraq… they got iraq and built there bases in afgahnistan and iraq… now for the big strike on iran…
you want to get out of the economic and oil depression….
then follow bush into iran….
people want there money…. you americans owe them that money… not me mr nikoli… but you americans owe 8 trillion dollars…
and don’t think your not going to pay… you will pay,,, maybe sell some land to mexico, some to russia, some to england….
be careful americans…. your country is not looking to healthy…
July 17th, 2008 at 9:56 am
If you’re ready to be paid in PESOS…just keep sitting in front of that dummy box, sipping swill and supporting the Monkey-In-Chief.
If NOT…GET OFF YER ASS!
July 17th, 2008 at 12:00 pm
A lot of people are still taken in by 911. They do not educate themselves, so they are not prepared. They have the internet and are two clicks away from finding the truth about the world they live in, but they can’t be arsed because they are too busy shopping and obsessing about trivia. They deserve what is coming. They are like so many children, thinking that these events would not affect them. They are wrong, and are about to discover that they live in the same world as all those who have so obviously suffered these past few years at the hands of fascists while they stood still and did nothing.
The good people of Iraq, Afghanistan and anywhere the elite vermin have been screwing over lately are about to see a bit of pay back heaped on the complacent and complicit west. Let’s hope that finally making them mad enough to wake up and join us in the truth movement. When we have the numbers we can move against these creatures where it matters, in the real world.
July 17th, 2008 at 2:50 pm
Economic tyranny in the making folks! Let’s not forget that it was Paul Warburg who was the FED Chairman during the “roaring 20’s”. We mustn’t forget that it was the world’s banking empire that sowed the seeds for economic depression in Germany which started down the road to W.W.II ( together with the ill-conceived “Versailles Treaty” ).
I don’t know about anyone else, but I see no end in sight for this huge “Black hole”! We should have never given up our possession of our true Gold and Silver money! To quote G. Gordon Liddy: “Oh, Ye suckerrrsss !!!”
-JSSmith(Scorpion081)
July 18th, 2008 at 9:59 am
Really, the FBI should go after bankers personal fortunes if they need money to save the banks, because the CEO of these companies are still running off with all of this fortune after they used fraud to swindle the american people, and the government turned a blind eye to it.
Don’t let Freddie Mac get saved, and yet not hold the CEO’s held responsible for practices that should be illegal in the first place. You shouldn’t be able to create credit bubbles in the first place. That is false accounting. If people rob banks, they go to jail. Why can’t these people.
July 18th, 2008 at 10:06 am
”
July 17,2008
A lot of people are still taken in by 911. They do not educate themselves, so they are not prepared. They have the internet and are two clicks away from finding the truth about the world they live in, but they can’t be arsed because they are too busy shopping and obsessing about trivia. They deserve what is coming.”
Look Suraci, no body deserves what is coming. I wouldn’t wish such things on our worst enemies. We are all on the same boat together, if one goes down we all go down. That is why the NWO is so cancerous, because the elite think they are separate from us when they are not. (why do you think they now seek robots and bio mind control so much) There quest for power and the power for there to be only one, will eventually create mistrust amongst themselves and in the end, destruction. There is no peace. Only following the laws of nature, in balance and cooperation, brings peace.
July 21st, 2008 at 8:24 pm
Anyone see the US Dollar Index last Sunday? Did it dip below 70.5 at all? That was when the rate cut happend. ON A SUNDAY!!! Yes. On March 16th 2008 I saw the index fall as low as 70.31 until the Fed cut rates.
July 21st, 2008 at 8:40 pm
The Real Financial Truth is now considdered fringe by the mainstream. Unbelieveable!!! Logic and reason does not even make it onto the main news shows save for Glen Beck’s show on CNN too little to late. Was this the same thing that happened prior to the 1929 depression? We must understand that the general public understood the value of gold and silver as well as real assets vs. Fiat currency very similarly to how the Chinese know this today.