For well over two years now, maybe even three, I have stated emphatically that the drop in the dollar's value is intentional. As recently as last fall I stated the same to Senator Richard Shelby (R. AL), when he visited Dale County Alabama at a town hall meeting held at Larry's Bar-B-Que. I recall Senator Shelby's exact words, "Oh, I don't believe it's intentional."
One of the biggest problems we have here in America today is the lack of attention to what is going on around us. And that includes U.S. Senators as well as some close friends of mine who pay little if no attention to the real world...some of them are so hung-up on their 1950's ideology that they failed to see the problems we have are directly related to the people they (and sometimes me) put in office.
The current monetary crisis is nothing to what it's going to be. But who am I to state such warnings. Well I'm nothing but a little guy down here in Alabama that devotes upwards of eighteen hours per day studying this "stuff". Am I wrong? Not yet anyway! Also, when someone who I don't know writes a national syndicated column and unknowingly quotes Storm'n Norm'n It puts a little validity to what I have to say...who knows he probably plagiarized me.
When you get to the last paragraph below (highlighted in red-emphasis mine) I don't want to say, "I've said this many times over and nobody is listening." But I will repeat what I've said in a recent post, "From Cassandra to Jesus Christ, it is amazing how often the doomed choose to ignore those who warn them of their coming fate."
ps: I should add that the author below has some errors in the commentary. It is not "both intentional and planned - by the Bush administration and the Fed", it is, however bipartisan with the majority of Democrats in approval of this scheme. It had it's genesis many years ago amongst leaders of the Democratic Party et al (see Bilderberg group) and got a shot in the arm by Pres. Jimmy Carter and a booster shot by the faux President Bill Clinton. And Obama will do us in...Oh, you don't have to believe me, the little guy down here in Alabama, you would condemn an innocent person to death row.
Europe Reports US Financial Meltdown Imminent
by DrKrbyLuv
Sat Jun 28, 2008 at 08:05:30 PM PDT
Two European newspapers reported today that a major global financial crisis is imminent, blaming the US Federal Reserve Bank.
For the past seven years the Bush administration has ran up huge deficits and more recently, flooded the US and the world with liquidity. This was the reason for the housing bubble – too much money was "created" through predatory loans.
It's time to consider the unthinkable - a major financial meltdown.
So far, American news sources have largely ignored the real and imminent danger we are facing. The UK’s Telegraph ran a story today:
"Barclays warns of a financial storm as Federal Reserve's credibility crumbles." The story goes on to say "US central bank accused of unleashing an inflation shock that will rock financial markets, reports Ambrose Evans-Pritchard."
"Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero".
"We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."
Note the use of the phrase "let its credibility fall "below zero". I think this implies fraud.
The UK Telegraph also ran an interesting story entitled The ECB's eurobankers are beating the Fed at their own game
"We should worry, then, that America's Commodity Futures Trading Commission - a body with close links to the Fed - last week launched an investigation into commodity traders. This not only shows an important regulatory body to be tackling the wrong problem, but also that it's ultimately controlled by ignorant, finger-pointing politicians."
"I'm afraid that much the same can be said of the Fed itself. Since sub-prime broke, US rates have dropped 325 basis points - all the way down to 2 per cent - despite headline inflation now running at 4.2 per cent. This is way too lax - and the resulting negative real interest rates will pump inflation higher still."
"Earlier this month, Fed Chairman Ben Bernanke began to tackle his inflationary demons, suggesting the rate cuts were over, and the next move would be up. The markets took him at his word - and priced in a rate rise, so immediately reining in inflationary pressures."
"Within a week, though, the Fed's resolve was spent. Officials briefed the markets that a rate rise may, in fact, not happen. And last week, Bernanke dropped the ball again. It wasn't that the Fed kept rates on hold. To have increased now, having cut just weeks ago, would have smelt of panic."
They aren’t the only ones sounding alarms, the Dutch newspaper De Financiële Telegraaf also ran a story today (sorry, it's in Dutch) stating that:
"Fortis (large bank in the Netherlands) expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. "We have been saved just in time. The situation in the US is much worse than we thought", says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US."
My suspicion; this is both intentional and planned - by the Bush administration, the Democratic Party, and the Fed to collapse our currency. After the dollar sinks, it may be replaced by the "Amero." The Amero will end our national financial sovereignty and be the common currency for Canada, Mexico and the US. Thus, clearing the way for the North American Union.
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