Senate Nears Debt Ceiling Consensus Which Demands Change In CPI Definition - Which will kill Social Security

By Tyler Durden

"The $500 billion in cuts would come from a range of sources, including shifting to a new consumer price index to make cost-of-living adjustments to Social Security." Care to wager what the bulk of this $500 billion will come from: that's right - social security, whose deliverable obligations will plunge as suddenly the inflation variable in the actuarial calculation will very mysteriously be cut courtesy of Senate-endorsed theft. "

Bottom line: our initial prediction that absolutely nothing will change now appears been optimistic, as the net result will be a far worse outcome, one which effectively changes the rules vis-a-vis inflation tracking, making stealth devaluation a core premise of this and any other future "deficit reductions."

Once again, middle-class America is about to be raped by its own "representatives" while the banking oligarchy flourishes.

http://www.zerohedge.com/article/senate-nears-debt-ceiling-consensus-which-revolves-around-changing-cpi-definition

Egan-Jones Downgrades US Credit rating over weekend

Egan-Jones Downgrades US Credit rating over weekend
by Tyler Durden

History has proven that defaults on domestic public debt do occur. In fact, seventy out of three hundred twenty defaults since 1800 have been on domestic public debt (1). Egan-Jones does not view a country's ability to print its own currency as a guarantee against default. Additionally, Egan-Jones generally views cases of excessive currency devaluation as a de facto default.

http://www.zerohedge.com/article/egan-jones-downgrades-us-aaa-aa

A U.S. default isn't a matter of "if" but "when,"

A U.S. default isn't a matter of "if" but "when," David Murrin, chief investment officer at Emergent Asset Management, told CNBC.

"It's inevitable that the U.S. will default—it's essentially an empire which is overextended and in decline—and that its financial system will go with it," he said.

The question is: Does the U.S. default when it is forced to by the outside world, probably the Chinese, or does it take the option to default on its own terms in such a way that it may have a strategic advantage, Murrin said.

Republicans and Democrats are currently locked in a debate on how to cut the U.S. budget deficit, and on whether the $14.3 trillion debt ceiling should be raised. Both parties need to come to a consensus by Aug. 2, otherwise the country will be in a state of technical default.

In his book "Breaking the Code of History," Murrin argues that the balance of power has shifted away from the West, with America as the superpower, towards the East, led by China.

He believes the U.S. cannot afford to compete with the rise of Eastern powers.

"It's very simple, its (America's) empire system, its financial system is in decline, we've seen very little growth for over a decade apart from financial engineering and leveraging, which ultimately caused the debt crisis of 2008," Murrin said.

"The only similar example is Britain. It was once an empire and when it lost its power over (the Suez Canal crisis of 1956) it had a large amount of loans outstanding to the Empire, and America owned most of that," Murrin said. "That was the power America had over Britain and it ended the pound, but their values were very similar in terms of global geo-politics and the world didn't really change that much."

He called America the last of the Christian, Western empires. "Who do you pass your values to as China grows and challenges? No one. So you are forced to continue to spend and one day you cannot afford it," Murrin added.

"If you look at how China is seeking to control debt in Europe and marginal debt in the U.S., which is strategic ownership, the position becomes more precarious for America," he said. "If I was an American in the White House, I'd feel safe militarily but fiscally I am very vulnerable."

"China is expanding its navy at a staggering rate, there is a whole naval arms race that is happening at a staggering rate and that will have ramifications within years," Murrin said. "It is a military dictatorship—look at the People's Liberation Army which really has control and it is very, very aggressive."

"We (in Europe) have tried to regain empire through Europe (through a) forced regionalization process which was bound to fail," he said. "The U.S.'s options are pretty dire and this is a real disaster but you can mitigate it."

The real disaster, Murrin said, would be to avoid recognizing the collapse of America's powerbase. "That only accelerates the loss of power and that creates a bigger vacuum, which China moves into and leads to potential conflict," he said.

For investors wondering where to look in this environment, Murrin said one thing is clear: "You probably shouldn't own dollar-denominated assets."

http://www.cnbc.com/id/43721270

Americans can Expect $10 Gas

Obama's Plan for $10 Gas
By Jeffrey Folks

American drivers are angry at having to pay $4 a gallon for gas, and understandably so. Their anger is often directed at the oil companies that supply the gas. It should be directed at Barack Obama instead.

From the beginning of his appearance on the national stage, Obama has focused on the goal of driving up energy prices with the idea of "weaning" America off fossil fuels. He has succeeded in driving up prices, all right, but not in reducing dependence on fossil fuels.

Now, in the ongoing deficit reduction talks, the President is insisting on cutting $45 billion of incentives for oil and gas companies over the next decade. The Democrats like to portray these incentives as "special breaks" for Big Oil, but in fact they are no different from expensing and depreciation allowances enjoyed by most manufacturing businesses. In reality, Obama's proposal has nothing to do with "special breaks" for oil companies. Instead, it is a "special tax" aimed specifically at oil and gas.

No unbiased observer can say that the American oil and gas industry is under-taxed. And yet Obama wants to pile on more taxes with the aim of bringing some of our nation's greatest corporations under the heel of government control.

Oil and gas is one sector where American companies still enjoy a distinct advantage over foreign competitors in the form of superior management and technological know-how. It is one area, in other words, where American workers are able to compete effectively with foreign workers. A $45-billion tax would go a long way toward destroying that advantage.

Obama's energy tax would also reduce funds available for exploration and production, thus reducing output and raising the cost of energy for American consumers. It would reduce domestic production, thus exacerbating our balance of payments problem. It would put American energy companies at a disadvantage to foreign competitors, thus reducing the number of jobs for American workers in the oil and gas sector.

This, of course, is exactly what the President wants. By driving up gas prices, Obama hopes to force Americans to purchase hybrid and electric vehicles. And by reducing the size and influence of America's oil and gas companies, Obama plans to make these companies even more susceptible to government control and de facto nationalization.

Just how high gas prices will go is a matter of serious debate at the present time. Respected energy analysts have suggested that oil may hit $170 a barrel by spring 2012. That would translate into $7 a gallon at the pump.

If American drivers are angry at paying $4 a gallon, they would be furious when gas hits $7. But Obama knows that their fury will be directed at oil companies. At that point he could score points by proposing another windfall profits tax, enough to drive prices up even further.

For this President the goal all along has been $10 gas, and he is closer to achieving it than most observers realize.

Republicans should not let Obama get away with using this crisis to advance his purposes of nationalizing the American economy.

http://www.americanthinker.com/2011/07/obamas_plan_for_10_gas.html

Buy oil high, sell it low

by Ethel C. Fenig

So, does it cost less to fill your car since President Barak Obama (D) dumped 30 million barrels of oil from the Strategic Petroleum Reserve oh so conveniently before the July 4th holiday week end?

No? Well, well, well.

The SPR's release of 30 million barrels of oil was sold to oil refiners and traders at more than $10/bbl BELOW market. Can the US taxpayer afford the $300mm subsidy?

Does the public know that prices are the same now, less than two weeks since the SPR announcement? Was this money well spent?

The released oil must be replaced, probably at a higher price than the original. Only in a Democratic administration can buying high and selling low be considered good business practice. Of course, if this is done with other people's money for political benefit, it is good business practice because it is good political practice. In other words, the proverbial Chicago Way.


http://www.americanthinker.com/blog/2011/07/buy_oil_high_sell_it_low.html

Dollar Not Worth a Dollar: Utah recognizes gold and silver as legal tender.

By Brian Bolduc

Since 1913, the dollar has lost over 95 percent of its purchasing power. Why? Because the Federal Reserve, which Congress established that year, has printed more money than necessary.

Or so skeptics claim. Many tea partiers agree — so much so that they’re spearheading an effort to introduce two competing currencies into the money supply: gold and silver.

The Constitution forbids states to coin money. In Article I, Section 10, however, it reads, “No state shall . . . make any Thing but gold and silver Coin a Tender in Payment of Debts.” Jeff Bell, policy director of American Principles in Action, argues that this passage authorizes states to recognize gold and silver as legal tender.

The Rise of the Barter Economy

by Peter Schiff

Imagine a day when you go to buy a quart of milk, ask the price, and the cashier says, “that’ll be a tenth ounce silver.” As the US dollar’s decline accelerates, several efforts around the country are trying to make this vision a reality.

Historically, paying for items in silver or gold was actually quite common. We happen to live in an unusual time and place where generations have grown up trading exclusively in paper. While my parents still used dimes made of silver, we have now gone several decades with no precious metals in any of our official coinage. But this system of money by government fiat is unsustainable.

While the practice of bartering precious metals directly for goods and services has continued on a small-scale over the last few decades, the 2000s saw the beginning of organized efforts to revive gold and silver as money.

European markets plunge as debt crisis worsens; gold jumps

European financial markets crumbled Monday as government bond yields surged again in Spain and Italy, deepening fears that the continent's debt crisis had entered a far more dangerous phase.

U.S. stocks also were broadly lower. Gold hit a record high in early trading as investors ran for cover, and the euro plunged.

While European authorities still are wrestling with bailouts of Greece, Ireland and Portugal, the “contagion” from the debt crisis has spread to Spain and Italy over the last week. Market yields on Spanish and Italian bonds have risen for six straight sessions as investors demand ever-higher returns to buy the countries’ debt -- a sign of waning confidence.

read more:
http://latimesblogs.latimes.com/money_co/2011/07/europe-debt-crisis-italy-spain-gold-euro-bailout-stocks-bonds.html

Bankrupting the US again

Holder Launches Witch Hunt Against "Biased Banks"
By PAUL SPERRY

In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, according to court documents reviewed by IBD.

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=577794&p=1

Civil unrest is coming from more than just economic depression

This country is in the final stages of “disintegration” despite whether anyone wants to acknowledge it. Our public education system is a failure, our economy has been trashed with runaway spending on more liberal theories that don’t work. The final insult is the polarization of society, which has gotten much worse under Barack Obama, whom we were told would unite us in a “post-racial” society. Wrong. As we circle the drain, cities like San Francisco, Los Angeles, and Chicago have the “new era” police chiefs: They sort of “look like” police officers, but they won’t enforce immigration laws, they appease Muslim terrorism, they hand out millions in failed programs to freshly-entitled low-income minorities, and they blame white people for…..everything.

http://rightwingnews.com/crime/obamas-neo-racist-society-white-and-a-victim-of-crime-you-deserve-it/

Law of Sea Treaty Could Cost U.S. Trillions

by Steven Groves

One of LOST’s “bathwater” provisions, Article 82, would cause the United States to lose a significant amount of revenue. If the U.S. ratifies LOST, it would be required under Article 82 to forfeit royalties generated from oil and gas exploration on the continental shelf beyond 200 nautical miles, an area the U.S. calls the “extended continental shelf” (ECS).

But if the U.S. was a member of LOST, it would be required to transfer a portion of that royalty revenue—now considered “international royalties”—to the International Seabed Authority, a UN-style organization created by the treaty and based in Kingston, Jamaica.

Thirteen of the world’s 20 most corrupt nations according to Transparency International are parties to LOST. Even Cuba and Sudan, both considered state sponsors of terrorism, could receive these “international royalties.”

http://www.humanevents.com/article.php?id=44659

By Thomas Jefferson and Russell D. Longcore

I recently began contemplating the imminent collapse of the US Federal Government. In light of the insane, unconstitutional spending of the Congress and Presidents (Bush and Obama will spend the same ways), the recession/depression that the nation is presently experiencing, and the simultaneous devaluation and inflation of the nation’s currency, collapse is the only consequence that makes sense.

Ask the Soviet Union. Oh…excuse me…they’re gone! The USSR collapsed from identical causes in 1991, and the Soviet states once again became sovereign nations.

From every news outlet from every angle, we are seeing this trend even more clearly now. What interesting is that this article by Jefferson and Longcore was written back in 2009. So think twice before you call that "nutbag conspiracy theorist blog author" a "nutbag onspiracy theorist blog author". His insights and predictions might just be spot on!

America’s Oil Price Inflation Crisis is Yet to Come

DumpDC Editor’s Note: We were also stunned when Barry (The One) dipped into the Strategic Oil Reserve for no apparent reason, at a time when world oil prices were dropping. Clearly, the US President has no clue whatsoever what supply and demand means. But he is certainly a Marxist, since he believes in government intrusion into the market. God help the USA when idiots are in the highest offices.

Oil has recovered the entire dip that came after Obama’s decision was announced and is now a penny higher than before his announcement. Unlike 2008 when most oil futures contract holders were hedge funds using leverage in an attempt to make short-term profits, today most oil investors are much stronger hands who bought with cash, because the world is now flooded with dollars thanks to Federal Reserve Chairman Ben Bernanke.

It certainly wasn’t worth jeopardizing the homeland security of this country by reducing our emergency oil reserve by 4.1%, just to see a $4 reduction in oil prices that lasted for only 3 days.
The emergency will be here when the U.S. can no longer import oil from foreigners at any price due to hyperinflation, and we are forced to live with only the oil produced in this country.

At any time that they choose, China has the power to set off in our country the economic equivalent of a nuclear bomb. China can at any time announce that they are no longer going to buy U.S. treasuries, but they are going to take their $2 trillion in U.S. dollar reserves and use them to buy gold. The price of gold would double overnight, with the U.S. dollar immediately losing half of its purchasing power. The yuan would then skyrocket in purchasing power, automatically giving China the world’s largest economy with the Chinese GDP soaring past U.S. GDP. There would be a massive rush out of the U.S. dollar with our trading partners unwilling to export any oil to us.

Without an emergency oil reserve, in the event of a major oil shortage due to hyperinflation, after a period of just 39 days, farmers won’t have enough oil to produce food, manufacturing plants won’t have enough oil to process and package food, and logistics companies won’t have enough oil to get finished food products into our supermarkets. This is why we have an emergency oil reserve, to prevent store shelves from becoming empty in our supermarkets due to a fuel shortage.

From the comments:

NIA is usually on the money, but I’m from Texas and have known a lot of oil people all my life. The consensus has always been that we will be fortunate to recover a quarter of what was pumped into salt domes near Houston. Obama’s grandstanding was pure politics and will accomplish nothing useful. In the best case scenario throwing away 4% of the reserves would be foolish. If Texas oilmen are right, Obama may have hazarded 16% of the “emergency” reserves.

http://dumpdc.wordpress.com/2011/07/05/americas-oil-price-inflation-crisis-is-yet-to-come/

Gold Surges On Reminder It Is The Only Currency Without Liability And Counterparty Risk

by Tyler Durden

A few days ago, Erste Bank shared the following spot on description of gold's function in the modern monetary system: "The possession of gold is tantamount to pure ownership without liabilities. This also explains why it does not pay any ongoing interest: it does not contain any counterpart risk. Along with the International Exchange and the Chicago Mercantile Exchange, JPMorgan now also accepts gold as collateral. The European Commission for Economic and Monetary Affairs has also decided to accept the gold reserves of its member states as additionally lodged collateral. We also regard the most recent initiatives in Utah and in numerous other States as well as in Malaysia, and the planned remonaterisation of silver in Mexico as a clear sign of the times. The foundation of a return to “sound money” seems to have been laid." Today, we get a quick reminder of this all too often forgotten truth, after gold has surged.

http://www.zerohedge.com/article/gold-surges-reminder-it-only-currency-without-liability-and-counterparty-risk

On This Independence Day, Another Revolution at Hand

by Ted Nugent

Thomas Jefferson would be shocked and appalled if he could see what America has done to this grand experiment since he drafted the Declaration of Independence. On this 2011 Independence Day, Jefferson would not be celebrating our independence, but rather encouraging Americans to revolt once again.

America has compromised the Founding Fathers' dreams of a limited federal government for a centralized federal government that is bloated, grossly ineffective, putridly expansive, irresponsible, tremendously expensive, and soullessly bureaucratisc.

Our federal government is more burdensome, costly and controlling than the British government of King George 275 years ago, the very beast that our Founding Fathers took up arms against and fired a freedom shot that was heard around the world.

The Soviets Didn’t Expect a Revolution Either

The Soviets Didn’t Expect a Revolution Either

I know a lot of people who are clearly preparing for the next American revolution. Some are stockpiling food, others are stockpiling ammunition, still others are stockpiling investments. Some have left the country altogether, having lost hope that the America they once knew can ever be resurrected.

These people aren’t difficult to find. Talk to Americans in pretty much any walk of life, say something short about how bad the situation in the U.S. has become, then quickly look away. Odds are good that they will follow-up by sharing a story from their own lives. After a few minutes of conversation, mention that something must be done and see where the conversation goes. In some places, these people are one in a hundred. In other places, these people are one in three.

Our political “leaders” are terrified to speak about this. The talking heads in mainstream media are terrified that Americans might be thinking of this. Federal law enforcement officials are surreptitiously monitoring Americans they fear might be ahead of the curve in leading calls to revolution.

They can’t stop the revolution, because they don’t understand it. A revolution does not start with a few people carrying guns. A revolution starts when a large number of people come to the realization that the government is broken and lose their fear of disobedience. It doesn’t take violence to create a successful revolution, it only requires people to stop taking the government seriously.

Popular revolutions often come as great surprises to the “beloved leaders” who have lost touch with their people. Popular revolutions need not be extraordinarily bloody, because a majority of the people reach the consensus that it is time for a change.

If you want America to recover, if you want a better world for your children to live in, if you want to be part of the solution instead of part of the problem, just start talking to people. Share the knowledge that we can have a better government. Help to build the consensus that it is time for a change. Don’t stockpile your ideas, share them.

http://www.fortliberty.org/the-soviets-didnt-expect-a-revolution-either.html

Why There Will Be No Economic Recovery

Regardless of what you hear from the professional thieves in Washington D.C. and the talking heads of the mainstream media, there will be no economic recovery. Economic recoveries do not “just happen”, they are caused. Cyclic economic theories do not imply that the cycles occur without human intervention, they merely show that humans tend to behave like herd animals. We all tend to do the same things together until it causes significant negative consequences. We create the cycles, the cycles do not occur without our causing them.

Once you accept that an economic recovery can only happen as a consequence of human action, you must define what actions lead to economic recovery. Fortunately, this is a fairly well understood area of economic study.

Sacred White Buffalo Holds End-Times Prophecy?

Traditional Indian ceremony held to officially name rare animal

Thousands of indians from across the nation and Canada gathered to see rare white buffalo calf, only the 3rd one of it's kind ever born. In a sacred ceremony they named the calf "lightning medicine cloud". Indian tradition holds that when the 4th white buffalo is born, it will mark the end of times.

http://video.foxnews.com/v/1031627861001/?test=faces

It ends in bankruptcy, death, blood and revolution.

Hello Roman Senate, Goodbye American Congress
By: Terresa Monroe-Hamilton

There seems to be some deal in the works where the government wants to reduce the debt by 4 Trillion over the next 10 years. And by government, I mean the Republicans. You guys wouldn’t all be on drugs, would you? Our current debt is just shy of 15 Trillion dollars and unless you are on crack, you know it will go up unless we drastically cut our spending and create jobs. 4 Trillion doesn’t even begin to cut it.

And while the Republicans may be living in La La Land, the Democrats don’t want to cut at all. Hell, just raise the debt ceiling and keep printing money. What could go wrong? Two words for you dolts – Weimar Republic.

It’s already being whispered and you can bet Obama loves the option – sign an Executive Order and raise the debt ceiling. Chuck-you Schumer is right there helping him. Schumer is a detestable dissembling troll. It’s a win-win from Obama’s evil point of view and an absolute violation of the Constitution. He gets to claim he’s a hero for saving America from financial default and blame the Republicans for forcing his hand. He also gets to point out how old and irrelevant the Constitution is and how it should be rewritten. Before you defend the Republicans though, remember they just wanted to kick this particular can down the road for political reasons to help defeat Obama in the next election. Just a slower form of the same deadly poison.

I don’t think this is naivete, cluelessness or ignorance on the part of our politicians. It can’t possibly be. They know exactly where this leads. It ends in bankruptcy, death, blood and revolution. You would only push this monstrous ponzi scheme if you had you and yours taken care of and had struck a deal with the proverbial devil du jour.


http://noisyroom.net/blog/2011/07/04/hello-roman-senate-goodbye-american-congress/

Moody's Gives Banks Greek Debt Warning

Banks rolling over some of their Greek debt into new instruments may have to take impairment charges, Moody's Investors Service said Tuesday, in another setback for efforts to involve private bondholders in a new international bail-out.

http://online.wsj.com/article/SB10001424052702304803104576427193418714806.html

European banks are heavily invested in the now soured Greek debt. American banks are heavily invested in European debt. It won't be long before the dominoes all fall, one by one. Try as they might not to call this a default, a rose by any other name... or more appropriately, "this crap still smells like crap."

The USA: Too Big NOT To Fail

By Russell D. Longcore

Washington DC doesn’t have the “Midas touch,” where everything they touch turns to gold. Washington has the “Merde touch,” where everything they do turns to shit.

Since 2008, we Americans have heard a new meme enter our lexicon. That new phrase is “too big to fail.”

The George W. Bush administration trotted out this phrase with its first stimulus plan and the bailouts of insurance, Wall Street and the car companies. We were all told that these companies were too big to fail, or too big to be allowed to fail.

In economies where the government doesn’t interfere, corporations that mismanage their assets and liabilities declare bankruptcy. The bankruptcy process either liquidates the business and pays off creditors, or allows the corporation to reorganize the company, renegotiate their debt and move forward with a new business plan. But the corporation is allowed to bear the weight of the choices they made and live with the consequences of their failure.

All the companies/entities who got bailout money should have been allowed to experience free-market consequences. All of them. Instead, Washington placed the market risk squarely on the backs of the American taxpayer.

All we’ve heard for months…years…even today…is that some business entities and government programs are too big to be allowed to fail. The licitness¹ of an activity is being determined by its scale. But no entity is too big to fail. However I can think of one entity that is too big NOT to fail. That entity is The United States of America.

Washington doesn’t care if it destroys the purchasing power of the Dollar by printing paper money and causing hyperinflation. They just don’t want to have unemployment spike over the bankruptcy and reorganization of big employers.

So the United States of America exists in a condition that is unsustainable. The United States of America is too big NOT to fail. Small government is manageable government.

Is the US burying itself

Is the US burying itself?

There is an old saying in politics: “If your opponent is burying himself with his own words, get out of his way and let him continue.” It’s the same in Washington’s foreign wars and quest for world empire. Washington is bankrupting the nation by prosecuting wars with no stated goal and no end game. And the other major world players are wisely stepping out of the way and allowing…even helping…Washington destroy itself.

Think about it. China is financing DC’s wars by buying Treasury securities. They already own nearly $1 Trillion in Washington debt. Washington is already functionally bankrupt but still borrowing and spending on war. Nations like China and Russia do not need to lift a finger in opposition to Washington’s actions. They are simply patiently waiting for Washington to destroy America and the US Dollar. Meanwhile, they save jillions of dollars in military spending by standing to the side and allowing America piss off the entire world and be its self-proclaimed police force. China can absorb the losses when DC defaults. In the meantime, China and Russia are consolidating their economic positions globally by skillful negotiations on commodities buying and selling. Russia supplies a large percentage of natural gas to Europe, which fills their coffers with capital. China has quietly made staggering deals for raw materials around the world. Meanwhile, Washington dithers and borrows and spends and allows America to become a Third World nation, the largest debtor nation in the history of mankind.

The nations of the world can see the inevitability of American economic collapse. The smart nations are preparing for the worst. But the question arises: are there any smart nations left in the world? The ONLY thing that a smart nation can do right now to prepare for global economic collapse is to switch to a precious metals money system.

http://dumpdc.wordpress.com/2011/06/30/graveyard-of-empires/

Robert Kiyosaki: Rich Dad Author Is Now a Prepper

Are you familiar with Robert Kiyosaki? He is best known for the “Rich Dad, Poor Dad” series of books. Over 26 million books authored by Kiyosaki have been sold and he is recognized as a financial expert by millions of people across the globe. Well, guess what? Even Robert Kiyosaki is warning that an economic collapse is coming. In fact, Kiyosaki and his team of financial experts are encouraging Americans to stock up on food, guns and precious metals. This is yet another sign of just how close we are to the total collapse of the U.S. Economy. Kiyosaki, who once co-authored a book with Donald Trump entitled Why We Want You To Be Rich is now a full-fledged prepper. As even more prominent Americans start warning that an “economic collapse” is coming do you think that the American people will finally wake up and start paying attention?

The statements that Robert Kiyosaki makes in the video posted below are absolutely jaw-dropping. Once upon a time he was all about teaching people how they could get rich, but now he is talking about storing food, buying guns, investing in precious metals and preparing for the coming crash.

The following are 11 of the best Kiyosaki “sound bites” from the video below….

#1 “when the economy crashes as we predict”
#2 “the crowds come rushing in to buy gold and silver”
#3 “we could either go into a depression or we go to hyperinflation”
#4 “or we could also go to war”
#5 “buy a gun”
#6 “I’m preparing”
#7 “I’m prepared for the worst”
#8 “so come to my house and I’m armed and dangerous and I’ll welcome you”
#9 “we have food, we have water, we have guns, gold and silver, and cash”
#10 “the credit card system shuts down, the world shuts down”
#11 “the supermarkets have less than 3 days supply”

If you have not seen this video yet, it is definitely worth the 8 minutes that it takes to watch it. Robert Kiyosaki seems to be extremely alarmed about the future of the U.S. economy….



READ MORE AT:
http://dumpdc.wordpress.com/2011/06/29/robert-kiyosaki-rich-dad-author-is-now-a-prepper/

Our Future In the Streets: England and Greece show us the future

by John Hayward

Thousands of strikers have clogged busy intersections, while 85 percent of British schools will be fully or partially shut down.

The same thing is happening in Greece, but with more exciting riots. The Greek parliament sought to battle the absolute and total financial meltdown of their government with crucial austerity measures yesterday. The UK Daily Mail tells us the result was bloody street battles between police and “demonstrators who were armed with petrol bombs, bricks, and sticks.”

What you see happening in England and Greece today is the inevitable future of Obama-style economics. There is no escape from this destiny. It’s only a matter of time.

Public employees and angry dependents of the government are all protesting against the same employer and benefactor. This results in solidarity, because the compulsive force they deploy through general strikes and riots is all directed at the same target. They believe this target cannot “go out of business,” an apprehension that sometimes restrains the worst excesses of private-sector unions. There is no point in making collective demands which destroy a private-sector employer, leaving the union with nothing. But where is the limit on demands made of public treasuries that can never be “empty?”

It doesn’t matter that the government has run out of money, or that the promises it made to buy votes in happier times were unsustainable. These people are not really declaring war on their government – they’re declaring war on the private sector. They want greater compulsive force deployed against those who have not yet been absorbed by the government, to seize more funding for their benefits. They know they will not face any organized mobs of angry taxpayers who deny them.

If such a mob of taxpayers appeared on the streets of Athens, they would be showered with stones and fire bombs.

Every government is either the ally, or the enemy, of law-abiding private citizens. The sole factor controlling that relationship is the size of the State. A large government will always become the enemy of its people, because those who depend on the government will eventually, and inevitably, insist upon it.

The path Barack Obama has set for America always ends with angry public employees and welfare dependents “fighting for pensions, and against overall government cuts generally.”

http://www.humanevents.com/article.php?id=44563

Founders: No Fans of Paper Currency

by Deroy Murdock

The costs of bad monetary policy are hidden, but growing.

If a time machine whisked America’s Founding Fathers from Philadelphia on July 4, 1776, to the Bureau of Engraving and Printing in Washington, D.C.,on Independence Day, 2011, what might they think?

“They would be appalled,” says Judy Shelton, author of Money Meltdown (Free Press, 1994) and co-director of the Sound Money Project at the Atlas Economic Research Foundation, with which I am a senior fellow. “The integrity of the dollar has been utterly compromised by fiscal malfeasance,” Shelton adds. “Monetary policy has become the default mechanism for budgetary irresponsibility.”