After the housing bubble bursts….

“Market conditions are the worst anyone in this industry can ever remember. I don’t think anyone has a recollection of a total disappearance in liquidity…There are billion of dollars worth of assets out there for which there is just no market.” Alain Grisay, chief executive officer of London-based F&C Asset Management Plc; Bloomberg News

The hurricane that began with subprime mortgages, has swept through the credit markets wreaking havoc on municipal bonds, hedge funds, complex structured investments, and agency debt (Fannie Mae). Now the first gusts from the Force-5 gale are touching down in the real economy where the damage is expected to be widespread. The Labor Department reported on Friday that US employers cut 63,000 jobs in February, the biggest monthly decline in five years. The cut in payrolls added to the 22,000 jobs that were lost in January. 52,000 jobs were cut in manufacturing, while 331,000 have been lost in construction since September 2006.

The news on commercial construction is equally bleak. The Wall Street Journal reports:

 “For the second month in a row, the Commerce Department reported a decline in spending on nonresidential construction — which includes everything from hospitals to office parks to shopping malls….Signs of trouble cropped up at the end of the year. As credit markets tightened, office space sold in the fourth quarter dropped 42 per cent from a year earlier, and sales of large retail properties declined 31 per cent, says Real Capital Analytics, a New York real-estate research group….If spending continues to slow, construction workers, who are reeling from the housing slowdown, face more layoffs.” (“Building Slowdown Goes Commercial”, Wall Street Journal)

Home sales are down 65 per cent from their peak in 2005. Inventory is stacked a mile-high. Vacant homes now number about 2 million; an increase of 800,000 since 2005. Demand is weak and prices are plummeting. It’s all bad. Meanwhile, the Federal Reserve and the Bush administration are scrambling to devise a plan that will keep homeowners from packing it in altogether and walking away from their mortgages. But what can they do? Will they really write-down the principle on the mortgages like Bernanke recommends and face years of litigation from bond holders who bought mortgage-backed securities under different terms? Or will they simply allow the market to clear and send 2 million homeowners into foreclosure in 2008 alone?

The deflating housing bubble is finally being felt in the broader economy. Home equity is vanishing which is putting downward pressure on consumer spending and shrinking GDP. Also, the dollar is at historic lows, and an intractable credit crunch has left the financial markets in disarray. Experts are now predicting that consumer spending won’t rebound until housing prices stop falling which could be late into 2009.

The housing bubble was entirely avoidable. It was the policies of the Federal Reserve which made it inevitable. By fixing interest rates below the rate of inflation for almost 3 years, Greenspan ignited speculation in housing and created a false perception of prosperity. In truth, it was nothing more than asset-inflation through the expansion of debt. The Fed’s actions were complimented by repeal of regulatory legislation which prevented the commercial banks from dabbling in securities trading. Once the laws were changed, the banks were free to peddle their mortgage-backed securities to investors around the world. (A-rated mortgage-backed bonds are currently fetching just 13 per cent of their face value!) Now, those sketchy bonds are blowing up everywhere leaving large parts of the financial system dysfunctional.

Now that the financial system is in terminal distress; many people are questioning the wisdom of handing over so much power to organizations (banks) that don’t operate in the publics interest. Thomas Jefferson anticipated this scenario and issued a warning about the perils of abdicating sovereignty to unelected, profit-oriented bankers. He said:

“If the American people ever allow private banks to control the issue of our currency, first by inflation, then by deflation, the banks and the corporations that will grow up will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

Even though the nation is stumbling towards an economic hard-landing; the banks are still only interested in finding a way to save themselves. Earlier this year, the Bank of America to members of Congress asking the US government to guarantee $739 billion in mortgages that are at “moderate to high risk” of defaulting to save the banks from potential losses.

Morgan Stanley’s Asia chairman, Stephen Roach, states that the country is not in a cyclical downturn, but post-bubble recession. There is a big difference. The Fed’s interest rate cuts and Bush’s “Stimulus Plan” are unlikely to stop housing prices from continuing to fall nor will they miraculously fix the problems in the credit markets. The massive expansion of credit in the last 6 years has created a $45 trillion derivatives balloon that could implode or just partially unwind. No one really knows. And no one really knows how much damage it will cause to the global financial system. Stay tuned.

Roach notes that the recession of 2000 to 2001 was a collapse of business spending which only represented a 13 per cent of GDP. Compare that to the current recession which “has been set off by the simultaneous bursting of property and credit bubbles…. Those two economic sectors collectively peaked at 78 percent of gross domestic product, or fully six times the share of the sector that pushed the country into recession seven years ago.”

Not only will the impending recession be six times more severe; it will also be the fire-siren for America’s consumer-based society. Attitudes towards spending have already changed dramatically since prices on food and fuel have increased. That trend will only grow as hard times set in.  

Roach adds: “For asset-dependent, bubble-prone economies, a cyclical recovery – even when assisted by aggressive monetary and fiscal accommodation – isn’t a given….Washington policymakers may not be able to arrest this post-bubble downturn. Interest rate cuts are unlikely to halt the decline in nationwide home prices…Aggressive interest rate cuts have not done much to contain the lethal contagion spreading in credit and capital markets…A more effective strategy would be to try to tilt the economy away from consumption and toward exports and long-needed investments in infrastructure.”

The Federal Reserve and Washington policymakers are still stuck in the past trying to revive consumer spending by creating another equity bubble with low interest rates and their $600 per person “stimulus” giveaways. Wrong way. Invest in infrastructure and environmentally-friendly technologies, rebuild the economy from the ground up, reestablish fiscal sanity and minimize deficit spending, put America back to work making things that people use and that improve society, and (as Roach says) “help the innocent victims of the bubble’s aftermath – especially lower- and middle-income families”. And, most importantly, abolish the Federal Reserve and give the control of our money back to our elected representatives in Congress. That is the only way to put America’s economic future back in the hands of the people.

That’s a plan we can all get behind ; www.wealthfreedomfighters.com

AVERAGE PERSON’S TAX BURDEN UP 50% UNDER LABOUR

The Average tax bill has increased by more than 50% in the past 10
years under Labour.

The Tax Payers Allowance says that the tax burden now stands at the
equivalent of £20,700 per household.

The reports author Mike Denham, a former treasury economist said the
Government had used “every trick in the book to drive up the tax burden”.

“People are increasingly beset by record levels of taxation and growing
service charges, but there has been no improvement in services in
return”, he said.

“We find ourselves paying more and more for less and less.  With rocky
economic times ahead, this rate of taxation simply cannot be
sustained”.

Burdened tax payers can fight back now,

To find out how Click        www.wealthfreedomfighters.com

A bullet or a Swiss bank account? How the bankers corporate empire grows….

The pen is indeed mightier than the sword.

Bankers figured that out a long time ago.

And when loans don’t work, bullets are a good back up.

How the game works from someone who played it from the inside

A bullet or a Swiss bank account : that’s the choice Third World leaders of resource rich countries have been offered since at least post-World War II.

Our gangster government, owned in reality by corporations, uses tax payer resources to subvert countries all over the world.

The first line of offense? Loans. Easy term loans.

Sound familiar?

Everything the US does overseas – EVERYTHING – it also does to its own people.

Assassination of political figures…already a part of American life.

Murder of civilians in cold blood…Waco and 9/11.

Deliberately bankrupting the nation as a means of social engineering…that’s what’s happening right now.

Watch this chilling interview and wonder how we as a people are blind and therefore complicit to this horrifying corruption…. here

The bankers have their cake and eat it up, there’s going to be nothing left for us!

Are you swallowing the story that  the most recent Fed/JP Morgan action to acquire Bear Stearns, along with the other recent market ‘stimulations’  have been “successful”? Then, may I ask that you check again.

The current crisis is so severe, it has already forced the Fed to reach into its own balance sheet so deeply, that a very legitimate question arises, and the question is this: when the Fed ploughs all the way through its own balance sheet and gets to the bottom of the barrel, who will bail it out?

It easy…..

You will.

And so will I, and every other American. Isn’t that nice of us?

And how will we do that?

You will bail out the Fed because, once the Fed burns through its balance sheet of US treasuries with its current Term Securities Lending Facility (TSLF), it can only get more treasuries onto its balance sheet by having Congress allow the Treasury to borrow more money from the Fed than the Treasury really needs.

We are talking monetization of the debt on steroids, here! Mega-steroids, that is.

An article just came out in the Wall Street Journal an hour ago at the time of this writing (actually, make that a “notice” since it has all but two very short paragraphs) that states the following, verbatim:

WASHINGTON — The Federal Reserve is considering contingency plans for expanding its lending power in the event its recent steps to unfreeze credit markets fail.

Among the options: Having the Treasury borrow more money than it needs to fund the government and leave the proceeds on deposit at the Fed; issuing debt under the Fed’s name rather than the Treasury’s; and asking Congress for immediate authority for the Fed to pay interest on commercial-bank reserves instead of waiting until a previously enacted law permits it in 2011.

No moves are imminent because the Fed still has plenty of balance sheet.

What amazing banker wunderkind came up with the idea that the Fed would ask Congress for authority to issue debt UNDER ITS OWN NAME rather than under the name of the Treasury!!

Just take that in for a second.

The Fed bankers, whose progenitors have already bribed our Congress to un-constitutionally turn over Congress’ exclusive power to “coin money” back in 1913, are now trying to persuade Congress to turn over its borrowing power to them as well, thus allowing the Fed to virtually borrow money from itself and issue itself IOUs for that debt.

It is difficult for me to do the gravity of this new idea justice, so as to correctly and adequately imprint upon your conscious mind the sheer and absolute fiscal insanity of such a proposal. Congress might as well turn its entire legislative function over to the Fed, because that’s pretty much what it amounts to.

Once The Fed has the power to borrow from itself and leave Americans on the hook for the loan, it can literally dictate to Congress what laws to pass. (Not that it doesn’t have that power already, but it will be far more obvious then – and it will be too late for you and I to do anything about it.)

Still think the crisis is over or like me are you starting to worry?Now, let’s make this easier to understand. When Congress allows the Fed to thus put Congress into its debt, where do you think Congress gets the money to pay the Fed “back” what the Fed has thus decreed as necessary to have Congress “borrow” from it?

From you.

This entire farce would represent perfect, divine justice if Congress told the Fed, “Yeah, sure. You borrow money from yourself – so go ahead and pay yourself back, as well. Don’t ask us to pay you for what you ‘borrow’ from yourself!”

But, you already know that Congress doesn’t have enough grits in its collectiv(ist?) brain to come up with an idea like that. No, Congress will simply lie down and tell the Fed bankers to have their way with it – and via Congress, with you and me.

The proverbial ‘fleecing of the flock’ has just gone into overdrive, except that now, you will not only be fleeced, but the ‘shepherd’ has suddenly discovered a newfound fondness for bestiality. You know what I mean.

This is the utter and complete raping of the American public – and guess what? Americans by and large are going to go along with it. Are you?

So the worst is over? part two….

 

The media are really pushing the propaganda that the worst is over in the financial markets both in the Uk and the USA. Despite the mindless rubbish coming out of Downing Street and Washington, DC., millions of us are in deep financial trouble. Every day last week the media cranked up the mantra that Wall Street may be getting more optimistic. Really? Well I want to know why, because the ‘stories ‘ below do not make me feel upbeat….

• 1 – May 2, 2008. Linens ‘n Things files for bankruptcy protection – 120 stores to close
  
• 2 – April 30, 2008. Disappearing now: $6 trillion in housing wealth. “A Washington think tank is warning that housing prices are falling at an accelerating level, destroying wealth at a pace that will cost the average homeowner $85,000 in lost wealth this year alone.”
  
• 3 – April 29, 2008. Foreclosures Spike 112% – No End In Sight. “More than 155,000 families have lost their homes to foreclosure this year; one out of every 194 U.S. households received a foreclosure filing.” (This year? We’re only into the first week of May.)
  
• 4 – April 29, 2008. Americans sell personal stuff to make ends meet
  
• 5 – April 29, 2008. More Subprime, Alt-A Mortgages May Head `Underwater’
• 6 – April 28, 2008. U.S. Credit Card Debt Soars to Unprecedented Heights. “Washington — Studies indicate that credit card defaults and related write-offs increased drastically since 2006. Today, lenders write off 33 percent more in credit card debt than they did two years ago.”
  
• 7 – April 22, 2008. The trillion-dollar mortgage time bomb. “Risks are rising that Fannie Mae and Freddie Mac may need a government bailout that could cost far more than previous rescues.”
  
• 8 – Fried in the Financial Sun. This is the derivatives nuke, folks.
  
• 9 – April 21, 2008. From boom to bust: Minnesota’s new ghost towns
  
• 10 – May 1, 2008. Home Depot to close 15 stores, cites poor performance. (This is a direct result of the housing meltdown)
• 11 – Got $4 bux for a cup of coffee at Starbucks? ‘Starbucks Earnings Sink 21%.’ May 1, 2008: Starbucks Cuts Back on Planned U.S. Store Openings
  
• 12 – May 1, 2008 (scroll to the bottom). Deficiency notice from pension plans – steel workers and teamsters. Sinclair is very respected in his field.
  
• 13 – April 8, 2008. Over nine hundred thousand pink slips were issued over the last year.
  
• 14 – April 22, 2008. California Meltdown: Foreclosures up 327% from ’07 levels – 500 foreclosures per day!
  
• 15 – April 2, 2008. U.S: financial industry sets record for job loss
• 16 – March 21, 2008. American financial refugees flooding into Canada
  
• 17 – February 22, 2008. City officials weigh bankruptcy filing. (This won’t be the last and the solution by city fathers will be to substantially jack your property taxes.)
  
• 18 – February 13, 2008. Bush Administration Hides More Data, Shuts Down Website Tracking U.S. Economic Indicators
  
• 19 – May 2, 2008. Sun Microsystems Inc., Cuts Jobs After Loss
  
• 20 – April 28, 2008. Opec chief warns of $200 a barrel oil price
  
• 21 – April 26, 2008. Consumers Falling Behind Utility Bills

Until these hundreds of thousands of laid-off Americans and home owners who have lost the roof over their heads can find work, they won’t pump money into the economy. Unemployment benefits coffers are being hit hard. Not to worry, though. Last week in a press conference, Bush crowed that the ‘economic stimulus’ checks will boost the economy! He forgot to tell the camera and the factually challenged media too ignorant to ask the right questions, that every one of those ‘stimulus’ checks are debt. There is no money in the U.S. Treasury. Congress had to borrow every penny from the privately owned “Federal” Reserve; the staggering interest will double the total “package.”

When you have a full 1/3rd of credit card holders defaulting, what you have are millions of people who have no disposable cash to even make minimal payments. What they have is going to buy food and absolute necessities.

What you see above is killing this economy and that doesn’t include the massive costs the states are and will continue to incur as crime increases, the cost of funding the mobs and our elderly Americans (in the tens of millions) who have no health care, no retirement care set aside and basically depend on the state for their food, housing and medication.

It’s time to get your financial affairs in order. I know it’s not much fun to but it needs to be done. It doesn’t matter what your financial status is,  a simple financial plan to get out of debt, save and crate wealth will save you and your loved ones a lot of misery and will take a huge burden off your shoulders.

Make a financial plan for now, five years from now and retirement. No matter what happens over the next few years, and it’s not going to be pretty on many levels, the patriots of today will prevail no matter how it unfolds. Americans still need to make short and long term plans and goals. Who is going to take care of you when you’re 64, 74? The state, your family or will you plan for care? How about helping your elderly parents?

Social security has to be funded for those who need it, just like Medicare, but these mathematically bankrupt systems must be allowed to die a natural death because no matter how much phony “money” is pumped into them, they’re never going to be solvent. Our future and retirement is our personal responsibility, not mother government.

Savings is the lowest in this country since the artificially created ‘Great Depression.’ I know people want to save, but can’t. How can you when 40% -60% of the fruits of your labor are being confiscated by city, county, state and federal governments, pushing us into poverty via taxes on everything under the sun? It will get worse as the corruption and stupidity continues by incumbents serving in all levels of government. Change will not happen with the same players.

 If you can, make a commitment to put aside something every payday into savings, even if it’s only $25.00. My parents generation and those before them saved. Unfortunately, with all the temptations out there (and the horrendous destruction caused by divorce), most Americans are not looking down the road, spending what they don’t have instead of paying attention to their obligation for the future. As the baby boomer generation is now hitting retirement, too many have nothing left to show and the shock is just now beginning to set in. How long before mother government raises the retirement age to 75 because of the mess they made?

It’s never too late to start, and the best time to start is NOW!

Has the worst of the financial crisis passed?

“Yes,” said the world’s richest man over the weekend. Warren Buffett told his shareholders that the “worst of the credit crisis on Wall Street is over.”

Maybe he’s right. But let’s look at the numbers. In 2006, alone, nearly $7 trillion of new debt was issued worldwide. Maybe double that amount in the entire five-year period – 2002-2007. So far, says Bloomberg, since the beginning of 2007, less than $200 billion has been written off. You can do the math yourself, but to me that means total losses so far probably don’t exceed 1% of the debt sold in the last 5 years.

So far, so good?  The Fed has now cut rates 7 times. And it now takes on its balance sheet – as collateral for loans – the very credits that are likely to go bad…credit card debt, student debt, and even car loans. It has only 200 basis points left, before it gets to zero, and there are approximately $10 trillion (just guessing) worth of credits that still could go bad. If just 5% of them went bust…the loss would be $500 billion. Maybe the doom and gloom is underplayed. Moving bad debt from the people who deserve it to the Bank of All the Americans – the Fed – doesn’t turn the bad credits into good ones. It merely allows everyone to keep doing what they’ve been doing…that is, to keep pretending that everything is all right.

But everything isn’t all right. Far from it. And budding out in our brain is the idea that the situation can’t be fixed…and that a major breakdown may be on its way…

Bankers and the Government – who owns who?

The Rule of Law is a Wonderous Thing…Especially if You Write Them – Bloomberg.com April 8, 2008

As credit markets seized up, the Fed gave the 20 primary dealers in U.S. government bonds the same access to discount- window loans that had previously been reserved for banks. The central bank now auctions as much as $100 billion to lenders a month, and has cut the cost on direct loans to just a quarter- point above the overnight rate on loans between banks.

The US Federal Reserve is now underwriting, i.e. subsidizing, the commercial activities of global private investment banks. The 20 primary dealers in US government bonds include the world’s largest investment banks – BNP Paribas Securities Corp. (French), Barclays Capital Inc (British), Banc of America Securities LLC (USA), UBS Securities LLC (Swiss), Dresdner Kleinwort Wasserstein Securities LLC (German), Daiwa Securities US Inc. (Japan) etc.

In truth, these investment banks are global entities and have no actual nationality no matter what jurisdiction in which they are legally domiciled. As such, they also have no allegiance except to their own self-interests.

QUESTION:

Why is the US government allocating public resources for the benefit of private international investment banks?

ANSWER:

US resources are subsidizing international investment banks through the Federal Reserve Bank, a quasi private entity which was given governmental powers in 1913 (some allege in violation of the US Constitution). That a quasi private bank is bailing out private banks with public monies does make sense. What doesn’t make sense is why the public allows it.

There is much discussion as to the justification and reasons for US, UK, European, and Japanese central banks bailing out private banks with public money. Issues such as moral hazard are now being raised in questioning the right and consequence of so doing.

In truth, such issues are irrelevant. Not that they are in themselves not important, but issues such as moral hazard will have no effect whatsoever on what is going to happen.

Intent is the underlying motive that explains what is about to occur. The intent of private bankers is not public stability, nor growth, nor productivity – it is the pursuit of private profit via the use of public credit and debt.

Today, most governments, especially the US and UK, are controlled by private bankers – which is why government policy continues and will continue to favor the interests of private bankers over the public good.

Is America’s Economy Stalling?

America’s economy is in far worse shape than anyone ever suspected:  Thirteen BILLION dollars each month goes to finance the Iraq war:  We are hemorrhaging jobs at a rate approaching 100,000 a MONTH:  Over ten percent of American homeowners now owe more on their mortgage than their home is worth:  This condition has not existed since the great 1929 depression:  Our economy is faltering; and we as Americans are on the brink..,          On March 15, 2008 the U.S. Government had to TRY to bail out Bear-Stearns, one of America’s largest investment banks, with no guarantee its efforts will even succeed.  Not since the great 1929 depression have our banks been in such dire straights.

In March of 2007 Bear Stearn’s stock was selling at $159.00 a share.  One year later, on March 17, 2008, AFTER securing a commitment from the government for a loan so they would be financially able do so, the JPMorgan bank bought the entire Bear Stearns company, building and all,  for just TWO DOLLARS a Share.  (They later implied it was ten dollars)

.What shape is America’s economy in when our fifth largest investment bank  just sold for between two and ten cents on the dollar !!

Less than a month later Citi-Group, America’s largest banking entity, announced that on the heels of its TEN BILLION DOLLAR LOSS in the fourth quarter of 2007, it has suffered an additional FIVE BILLION, ONE HUNDRED MILLION DOLLAR LOSS in the first quarter of 2008, and that in addition to the 4200 recent job cuts, it is cutting 9000 additional jobs for a total of 13,200 job cuts, with more on the way.  Other large banks are in the same situation, making America’s economy alarmingly unstable.

On April 19, 2008 Merrill Lynch & Co., the world’s largest brokerage firm, said it would cut another 3,000 jobs after more than 6.5 BILLION DOLLARS in fresh write-downs pushed it to a loss for the first quarter of this year (its third straight quarterly loss).  Banks and brokerages have racked up nearly 200 BILLION in write-downs to date, with more feared to come.

Delta Airlines also plans to eliminate 2,000 employees; our auto makers are closing plants about as fast as they’re selling cars; and we are still losing jobs faster than the government can keep track of them.

Now, balance all the above,  with hedge fund manager John Paulson, .who, or example, raked in $3 BILLION dollars in earnings for 2007, thereby unabashedly paying himself more than $1.4 million dollars an hour!

Assuming a 40 hour work week, that’s the combined income of over 80,750 average Americans who earn $17.86 an hour !!

That’s enough to completely cover the entire budget of SIX states !!

If you are in a 401K retirement plan, the odds are that half of your employer’s contribution to it is being stolen by the greed parade on Wall Street to line their own pockets while they pump money into America’s businesses which will very promptly be lost to the greed of chief executives, who will in turn allow their corporations just enough cash flow to survive, stealing the rest in the form of bonuses, in the clear absense of any conscience at all.
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Most now realize that all of the above is pure, unabashed, demonic greed and thievery !!

The banks are winning and we, the ordinary people are losing everything, our homes, our savings, our futures.

Stop this now, educate yourself and learn how to get out of this corrupt system with The Ultimate Entrepreneur.
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Is your bank safe?

After Northern Rock and Bear Stearns, I’d hope you’d be able to answer that question correctly. (The answer’s NO, of course!!).

After all I’ve told you about banks, i’d like you to consider the following precepts:

Banks are required to have ‘reserves’ , correct? 

Reserves are ‘assets’ on the bank’s balance sheet and when applying for a license to form a bank the bank holding company needs to have ‘x’ million in reserves (assets) before they can be approved to do business, right?

The primary reason for this is obvious and simple – financial stability.

Now, with that in mind, as the bank grows and gains business prominence we’d expect those reserves to grow with the bank to offset it’s increasing liabilities, correct ? 

In fact, regulatory authorities use formulas for determining financial solvency which incorporate these ‘assets’ in reserve as an essential ingredient.  It only makes sense.

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Now, for those of you who ever had accounting 101, you understand that when you take out a loan and deposit the proceeds of that loan onto your balance sheet, that loan amount is ultimately a ‘liability’ and not an ‘asset’, right?  The loan has to be paid back and then as an obligation it is a ‘liability’ on the books.  Are you with me?

How would you feel then, if you found out that your bank never had any ‘assets’ for reserves.  In fact it had no assets in reserve.  It had nothing in terms of cash or assets to offset it’s liabilities (other than clients’ deposits) .

What if you found out that your bank tricked you into thinking that it was safe with plenty of reserves when in fact it had no reserves ?   Would you be screaming to the regulators to have the bank give you your money back and shut the bank down for committing a long list of ‘fraud’ crimes and breach of the public trust ?

Well, you can forget about ever doing that.  I’ll tell you why in a minute.

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Here are the facts regarding the reserves of the US Banking system:
Cash Reserves of US Banks has evaporated
They are operating on ‘borrowed funds’ from the Fed
The total banking reserves went negative in Jan. 2008
It’s getting worse every month
In early April the entire US Banking system reached $100 Trillion in funds borrowed from the Fed to shore up the banks  legal ‘reserve requirements’

The banks are committing blatant fraud against consumers using ‘liabilities’ to substitute for ‘assets’.

See for yourself.  The Federal Reserve has published this for your review.  You will see in the report (link below) with a:

Table: 
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASEIn this table is a column:  Non-Borrowed ReservesIn ‘Non-Borrowed Reserves’ you’ll see the figure go negative in January and start getting worse each month.    ‘Negative’ non-borrowed reserve is legal speak for ‘borrowed reserves’ See for yourself using the link below …. then tell me how safe you feel with your funds in a US Bank ?! Fed Report on Non-Borrowed Reserves

Once you start getting the idea, you’ll need to start thinking  ‘out of the box’. 

When it hits you…. contact me and join the Ultimate Entrepreneur

The Fascist Blueprint, it can and is happening in the UK and USA today

Today I’ve posted a link to a video of feminist writer Naomi Wolf speaking about her recent book on the Fascist Blueprint and how it’s being implemented perfectly in America. The US administration is not alone in adopting this method of restricting the freedom of its population.

The UK Government, under Blair have introduced a wave of laws designed to take more and more control of our lives away from us and this policy continues under Gordon Brown. Just as it will under David Cameron or whoever is next in 10 Downing Street.

Politics is no longer about individual parties and their differences, rather it’s about the ruling class and their domination of us, the ordinary people of the country. Terrorism is an old scapegoat, I grew up in Northern Ireland where the loss of civil liberties was excused for the purpose of ‘keeping us safe’. That scenario is now being played on the biggest political stage in the world – America!

Watch this video and you won’t be able to deny the truth any longer. Not only are we financial slaves, we are becoming physical and mental slaves too.

The Fascist Blueprint