The G-7 countries, the US, the UK, Canada, Japan, France, Germany and Italy, have declared economic war on their voters. They are meeting today and tomorrow in Bavaria. They seem to have attracted quite a few protesters. There would be many more people in the streets if they knew what was being planned for them.
The unelected European Commission has ordered 11 formerly sovereign nations to pass laws permitting Cyprus style Bail-Ins so the Bankers can take depositors cash and pay off their speculative losses. The other 17 presumably had already passed such laws. There is some urgency in this demand because the 11 foot dragging countries were given a two month deadline. The US and Canada have already taken similar measures. US courts have ruled that American depositors are uninsured investors. In case of a bank’s bankruptcy people who bought Credit Default Swaps have priority to being paid over depositors.
Your remember CDS back during the height of the Mortgage Back Security fraud? Men selling worthless mortgages bundled into fraudulent bonds would buy a CDS so rating agencies could legally but not morally give AAA ratings to bogus bonds. Those worthless CDS were sold by banks so that criminal corporate enterprises could defraud pension funds. The Federal Reserve during Quantitative easing bought $1.7 trillion in fraudulent MBS to keep Wall Street Brokers and Bankers out of jail. I would be willing to argue that a lot of the $9 trillion that went missing at the Federal Reserve was used to cover bad mortgages.
The G-7 leaders have said they were receptive to the IMF accepting China as the fifth nation to add its currency to its SDR basket of currencies. This will allow for more uses of the yuan and reduce demand for the dollar. That means the US Dollar will decline more rapidly in value. But that is what the self-appointed leaders of the UK and US want. Dr Michael Hudson said the Obama admin wants to use inflation cut real wages 30% so he can create jobs. If Obama succeeds, that means the majority of American workers will make less per hour than a high school student made at his minimum wage job in 1968 if you adjust for inflation.
Wall Street and the City of London have been working for more than 100 years to build up China and to take down America. Henry Kissinger spent 1971 working on Richard Nixon’s 1972 trip to Beijing. Subsequently, we sent China our industry and our military secrets. The Israelis helped by sending them the neutron bomb Sam Cohen had given them as well as our electronic, rocketry and aeronautical advances. When Bill Clinton and the leadership of both the Republicans and the Democrats in the House and the Senate passed NAFTA, the Chinese devalued their currency, pegged it to the dollar and wiped out 57,000 manufacturing plants in the US.
Most would regard that as treason.
The Chinese have acquired trillions in US cash and Treasury bonds. Or have they? They have been using US Treasury Bonds to guarantee loans on their worldwide shopping spree. 15,000 businesses are listed on a website in Italy whose web name literally translates as ‘Let’s Sell It To The Chinese.’ The Chinese promised $100 billion for Africa in 2010 and more recently $250 billion for Latin America. When the Chinese yuan is added to the IMF’s SDR currency basket later this year, we will see a decline in demand for the dollar. The dollar is currently in high demand because speculators all over the world have been buying dollars to get out of bad positions in Emerging markets. But soon the yuan will rise as the dollar declines.
I think the Chinese have prepared for a decline in the value of their US Treasury bonds as I said by using them as collateral for real estate transactions. I think that we ought to also not lose sight of the tremendous corruption in China. They might need to use all of their remaining US cash and bonds to pay off bad debts. 21,000 wealthy Chinese have, as I previously reported, stashed $4 trillion in British banks in the Caribbean. Chinese businessmen have illegally sent nearly a trillion overseas in the past year by using false invoices which they pay to themselves. That money will give the wealthy Chinese a soft cushion after the coming crash but do nothing for the one billion poor people at the bottom. China is a revolution waiting to happen.
Question: where is the plan to take care of the American, Canadian and European public after the crash?
The US economy is contracting in real terms if you devalue for inflation using real numbers from Shadow Stats. The US stock market is way over valued. Corporations have been getting cheap Near Zero Interest Rate loans to buy their stock. This enables the Big Executives to pay themselves bonuses and to sell stock options at inflated prices. The Velocity of the US Dollar is worse than the Great Depression. Velocity measures how many times a dollar changes hands in the course of a year. A low Velocity means your economy is dead. Our abysmally low Velocity tells us the only people making money are the ones feeding at the trough of the Federal Reserve and the Federal Government. The US is accumulating debt at $9 trillion a year if you count unfunded liabilities. This will not last much longer.
The US government is making moves to seize pension funds. The US regulators already allowed the Banks to steal $40 trillion from us according to Catherine Austin Fitts, the former managing partner at Dillon Read. She served as Housing Commissioner in the first Bush administration. She once found one single city block in San Diego with $20 million in fraudulent loans. The loans were given out on buildings that did not even exist and did not even have postal addresses. It was common practice to adjust the books when $20 billion or more was stolen from Housing funds. We are used to the ongoing theft at the Department of Defense where $8.5 trillion in spending cannot be accounted for. And you wonder why we are always looking for wars.
Nor should we forget Dr Jim Willie who said US primary Federal Reserve dealers sold $3.5 trillion in counterfeit US Treasury bonds which taxpayers are expected to redeem with interest.
If the Bankers take our pensions, our savings and our checking account deposits, what will we do when China devalues the US Dollar and sets the US on the path to Hyperinflation? Does the US federal government have any plans to take care of us in case of a stock market crash? Probably no more than do the other G-7 nations. Please remember that I have defined Hyperinflation as starting at 25% and that it will never happen until the dollar is devalued.
A Depression is a period in time when Unpayable Debts are cancelled en masse. In addition to having a lower Velocity of Money than in 1933 we also have far more debts to cancel. England and Scotland today have several times more debts per capita to cancel than does America. You can measure the severity of a coming Depression by estimating the number of Unpayable Debts before it starts. The US is in far worse shape than in 1933. Dr Steve Keen says we will have the most severe Depression in 500 years because we have more Unpayable Debts to cancel than ever before.
In 1933 if a married couple could get to the bank before it collapsed, they could live for a year on a thousand dollars in cash. Not so today. This time around America will have Hyperinflation as soon as foreigners see their dollars decline in value. Because the majority of dollars are overseas we are talking about prices doubling in short period of time after the collapse begins. When dollar and bonds decline in value, they will be dumped. Prices will soar. Inflation will cancel benefits and erase savings. Does any government have a solution?
I do but am not allowed to say on TV that we need to arrest the Bankers and to seize their assets so we can fund worldwide Debt Cancellation.
We can expect a minimum of 500 million people to die from Food Riots and Rebellions if we do not have monetary reform and Debt Cancellation.
If our leaders love us and campaign for our votes, where is their plan for us to survive?
Bilderberg Society Update: They will be meeting after the G-7 Summit is over. I will issue my 2015 Annotated Bilderberg Member List as soon as the names of the participants is known.
War Scare Update: Nobody in Europe will follow Obama into a war with Russia over the Ukraine. Letting NATO leaders talk about Thermonuclear war does not win friends for America.
Previously, I said Syria received a billion dollars from Iran to fund an offensive this summer. Iran was training Shi’ite volunteers to fight ISIS in Syria. Their 15,000 man force has arrived. The Assad summer offensive will include volunteers from Hezbollah, the regular Syrian Army, the Syrian National Guard (NDF), which numbers 100,000, and 15,000 Iranian trained men. The Iranians have repeated their announcement that a major surprise will be unveiled this summer.
Israel has recently said they would have to force 1 to 1.5 million Lebanese from their homes in case of a war with Hezbollah. 1.5 million is a third of Lebanon’s population. Hezbollah has 3,500 regular forces and maybe another 60,000 in reserves. They have been using volunteers to help Syria fight ISIS. Their leader, Sheikh Nasrallah, has said it would be a disaster for them if ISIS defeated Syria. Assad needs a victory this summer.
Israel does not like the presence of the Iranians in Syria but they are currently focused on receiving billions in bribes disguised as aid for allowing the US President to conduct foreign policy in American interests.
I doubt Israel can do what they say they will do which is to force 1.5 million Lebanese out so they can blow up Hezbollah with their recently acquired American bunker buster bombs. Hezbollah can fire missiles from inside Syria because many of those National Guardsmen in Syria are loyal to Hezbollah. And Hezbollah has many tunnels inside Israel so they can fire missiles from inside Israeli territory. They can take down the Israeli power grid for 6 months and flatten a lot of Tel Aviv and Haifa. If the Syrians and the Iranians joined Hezbollah, they could flatten the rest of Israel. That threat should persuade the Israelis not to commit Genocide in Lebanon.
If I could hazard a guess, I think the surprise Iran will announce this summer is that their S-300 system is operational. They had been building their own S-300 anti-aircraft system prior to the recent announcement from Vladimir Putin that he was going to give them a more advanced version than the one the Iranians were building. They already have the Chinese HQ-9 which is S-300 based and can be used as a perimeter defense for the advanced version of the S-300. This means neither Israel nor America can attack Iran unless they are willing to use nuclear weapons. This post Fukushima world cannot stand that much radiation. I could be wrong. The Iranians might announce an additional surprise.
America has reached the limits of its Empire. Now the collapse begins from within.