Happy Thanksgiving!
Happy Thanksgiving! Here’s an interesting cartoon on the topic.
![[Thanksgiving In Washington]](http://www.naturalnews.com/cartoons/Thanksgiving_in_washington_600.jpg)
[source: NaturalNews.com]
There’s certainly one group of people who have a lot to be thankful for this Thanksgiving: The white-collar criminals in Washington who are looting the U.S. Treasury and stealing trillions of dollars from taxpayers.
That’s what this financial bailout really is, of course: A grand, desperate swindle that seeks to wring every last cent out of the U.S. dollar before the coming currency collapse. A collapse of the value of the U.S. dollar is coming soon. Just do the math: The end result is obvious. It will either be runaway inflation that leaves dollars virtually worthless or the abandonment of the dollar by the U.S. government and the adoption of a new currency (the Amero?) at confiscatory exchange rates that will wipe out the savings of most Americans.
You are witnessing the downfall of the American empire, and the Federal Reserve — a private bank that was stupidly handed the power over our nation’s money supply — is heaping new debt onto old debt, sending the U.S. into a tailspin of bad money from which it will never emerge. Consider this: It took the United States over 230 years to accumulate $5 trillion in debt. That national debt has now roughly tripled in the last 60 days. Officially, the national debt is now about $10 trillion, but with the Fed just announcing another $7 trillion in bailout money, we’re talking about a $17 trillion national debt that nobody even has a clue how to pay back.
The very idea that we can pay off bad debt with more bad debt is so utterly stupid in the first place, it could have only been dreamed up by politicians. It makes as much sense as paying off one credit card by taking out a cash advance on another credit card. That’s not a financial bailout; it’s more like a financial tar pit. But it’s exactly what the United States of America has decided to do.
Read the rest of the article here.
If you found this post helpful, consider donating to my coffee fund!![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
- Time To Go Long The Dollar? Regular readers know I've been pretty pessimistic on the outlook of the US economy and bearish on the US dollar as well. However, since it seems like everyone is echoing the same sentiment, could it be that we're due for a short (or medium) term spike in the US Dollar?......
-
The Sun Sets On Dollar Supremacy According to a quote in the Telegraph, HSBC has issued a new report stating that the Federal Reserve's ultra-loose monetary policy is forcing China and other emerging countries to create a new global currency "order". According to David Bloom, HSBC's currency chief, the dollar looks like the sterling did after...... - Why the Dollar Hasn't Already Collapsed MSNBC has a good explanation on why the dollar is still holding up against the other currencies. Even though I'm bearish on the dollar for the next few years, its still a good read. I think the dollar will slide against a majority of foreign currencies including the yen and......
Related Websites
- Visualizing One Trillion Dollars and U.S. National Debt One of the most jaw dropping, and completely depressing, animations of U.S. National Debt I've ever seen. Perhaps I'm overly melancholy after seeing that it would take 12 plus football fields of 100 dollar bills stacked 8 feet high to pay our national debt, but isn't it just a little......
- Peter Schiff on the Rally and Why You Still Need to Buy Gold So, we're finishing up the eighth straight week of the bear market rally of March-April 2009. Everyone's asking how long it will last. Last week, Schiff mentioned the rally in passing, but this week he addressed it head on. Simply put: both some bears and some bulls are wrong going......
- Don't Let Desperation Destroy Your Financial Future There are more people in debt across the nation today than at any other time period in history, as many people have been using credit to spend beyond their means and purchase large homes that they can not afford. Many of these people are now having trouble paying all of......
[All content is copyright of Living Off Dividends & Passive Income]
November 27th, 2008 at 9:37 am
Awesome! Even deeper truth than that is that our money system was designed to enslave people anyway. The fractional reserve system is the practice of creating money out of debt. Which, intern, gives banks the rights to take your house if you can’t pay the debt. This of course forces you to compete for jobs to pay back the debt.
What happened to the free money system that our ancestors left Europe for in the first place?
We stopped backing money with gold because the banks planted politicians in the white house to get that type of legislation passed.
December 5th, 2008 at 7:52 am
Thanks for helping me justify my decision to buy some more physical silver when I get the chance. I try to remain as optimistic as possible, but any asset that’s dollar-based scares the crap out of me.
December 5th, 2008 at 8:25 am
What is even worse it seems is putting your money in the bank. After watching Zeitgeist Addendum it makes you want to put all your money in a safe or just get out of the dollar all together.