The Coming Debacle.

This was posted over at Daily Paul but was so good it needs to get posted far and wide! Long but well worth the read!

I have prepared this to help those trying to educate their families as to the coming
debacle. Please bump it.

Posted May 3rd, 2008 by
melgesman

Caveat:

While what follows is the result of my research thus far, there may be
unknown (by me) monetary policy tools that I have not mentioned which
could act to mitigate the outcome of our current predicament. However,
in all of my research thus far, I have not found them and would
appreciate any additional information regarding this.
My motivation for this is to provide, as concisely as possible, the
gravity of the financial situation that is upon us. Most people have
neither the time nor the propensity to delve into this stuff and
without understanding it you may find yourself steamrolled by it in the
near future. By knowing what follows, you will be infinitely better
equipped to examine your own situations and plan. I will revisit this
often and answer any questions that I can.
Also, I am not, nor have I been by nature a paranoid individual,
although I am now an anxiously nervous one! Knowing that this is to be
posted on the internet, and pointing to the fact that there is nothing
incite-ful or terroristic in my prose, I present this without
identifying myself as I have no desire to attract the attention of the
National Security State prior to the civil unrest that is about to
befall us. The repudiation of our basic Constitutional rights under the
Patriot Act and numerous Executive Orders coupled with activities
brought to light by governmental whistle-blowers has served to severely
degrade my belief in the benevolent nature of our government A uniquely
empowered FEMA has been very busy in preparation. Besides, my wife
insisted…
Economic Ramblings
By P.J.A. – A Concerned Patriot

Annapolis, MD
While I have been emboldened over the apparent increase in the
numbers of Americans “waking up” and as evidenced in the numbers that
have come to follow Ron Paul, we have quite a long way to go. It is so
disheartening to acknowledge that a quorum of rubber stamping
Republican and Democrat dilettantes still exist, enough so to continue
to propel the American bus’s trip over the cliff. Until this quorum is
chiseled away through the education of the masses coupled with an
acceptance of personal responsibility and the ascendancy of an honest
leader, we will not see an end to the statist agenda that virtually
both parties are following. The statists have a hammer lock on control
of the two Party’s, look at what just happened during the 2008 Nevada
GOP Convention. The Republicrats are about to bring great ruin on us
all.

When you understand what follows, ask yourself two questions…Who
would benefit from what is coming? The second question, (Why?) will be
answered by the first…but only if you do the research. If not, you will
be doomed to continue to be smacked around like an economic ping pong
ball while elitists destroy the American middle class and sell us off
into world government. This is not something that “might happen” in
your future…it is in process right now and will have run its’ course
within the next 5 years…probably much sooner given the state of the
agri-oil markets and the extra speedy motors added to the printing
presses within the Fed’s system.

If you endeavor to learn, you may be able to protect yourself. What
you really will have to do, once your jaw is raised back into place, is
to take a stand against the dog and pony show that is the political
system as we know it. Protection will lie in the absence of debt and
the physical transference of cash equivalent assets into precious
metals ASAP. The debt elimination must include your mortgage as bank
failures will have these loans “called-in” in an environment where
loans are non-existent. Please don’t fool yourself about any FDIC
guarantees. The FDIC is merely a window dressing that holds an
infinitesimal percentage of all deposits in their reserves and will be
immediately insolvent once the run starts. Get your money out of the
banks and convert it to gold and pre-1964 silver coin.

To begin, I just need to touch briefly on this...I have to state my
new found respect for “Whistle-Blowers” and “Conspiracy Theorists”. For
those that like to ridicule “Conspiracy Theorists” as “wacko’s living
in trailers”, I’d challenge them to truly understand who these
“theorists” are and what they are saying while honestly examining the
evidence they present. Simply “spewing” ridicule, backed by MSM (Main
Stream Media) meme as the authority, will not serve you well. This is
what I have done. Rather than jump on the “Ridicule Express”, I
endeavored to understand why such seemingly insane opinions existed.
A couple of years ago, after hearing in the news that 30% of the
American pubic were a bunch of wacko’s that believed that 911 was an
inside job, I was completely dumbfounded. I couldn’t fathom how anyone
could possibly believe in such things. I voted for Bush twice and
certainly never held such beliefs.

Even now, after months of investigation and research into 911, the
Illuminati, aliens, and other “theories” I am hard pressed to point a
finger at “the government” per say…but I do have many questions that
NEED answering before I give the "powers that be" a pass…on ALL of
those subjects…yes, even the "alien" thing. Besides, can anybody truly
differentiate between a “Conspiracy Theory” and/or a “Strategic Plan”
and is it so hard to understand that history has been defined by the
conspiracies of powerful men? Is there any amongst us who has not heard
of a conspiratorial group called The Sons of Liberty? At some point,
prior to the culmination of their plans, their machinations were
performed in smoky back rooms and only whispered of in public. I wonder
who laughed at the whisperer’s as they spoke of a small cadre that was
plotting to topple the greatest power that the world had ever seen.
The vast majority of these “conspiracy theorists” that we so readily
throw under the bus are, from my experience and perspective, good
Americans or lovers of liberty who have realized that a grave problem
not only exists in our country, but is growing. They, more than any
other subset of society, are truly the ones among us who have taken it
upon themselves to honor personal responsibility in their own
educations and are now therefore informed to a great degree, and are
sounding the Klaxon for our benefit. They have turned off their
televisions and taken it upon themselves to try and identify and
understand who or what is driving their ill fated bus. They are the
ones who have taken the proverbial bull by the horns, and they are the
ones begging for your assistance in subduing the beast. The most
surprising thing for me was to find an over-abundance of substantive
well researched information was available for all to see and it
consisted of information that you WILL NEVER SEE in the corporate
controlled media.

I don’t live in a trailer and am in fact an educated, professional
bean counter (accountant) and a securities trader. Even with an
educated background and the ability to do “research”, I found myself
like most others, living my life in a media controlled daydream
believing in the altruism of my government and the importance of a new
quarterback for the Ravens. Well…no more. While we have all been told
to beware of what we read on the internet, I have found that this is
the place to get truly educated. The thing to be cautious of is the box
that sits in your living room as it lulls you into a false sense of
security, “spews” bullshit at regular intervals, and allows for little
educated discernment.

Please understand that this is not a piece on "Conspiracy Theory"
and I will leave this subject with this: It is my belief that what is
now in evidence is not, by any means, the results of some "Comedy of
Errors" resulting from the actions of a bunch of idiots that people the
halls of power in Washington. Given this, I believe that the results
point to machinations of some controlling influence, whatever that may
be. Somewhere within the grand cacophony of supposition and theory that
swirls around us lies the truth. Sadly we are not destined to know it
until such a time as a body of citizens, disconnected from the power
structure and armed with punitive subpoena power is convened to
investigate on our behalf. Until the day that our power is reclaimed
from the vast self-serving bureaucracy that manipulates us, we will
have to maneuver to protect ourselves from further machinations and
subterfuge. Now, let's move on...

We have incredibly difficult economic times ahead. I have prepared
what follows from my research to awaken my friends and family to what
is about to happen to us. It is very pertinent to us all as we are
facing imminent financial collapse! There is little doubt of this in my
mind, and you can find lots of support for what I am about to
illustrate with little research. We have a currency in dire trouble so
you have to understand one thing intrinsically, collapse is a very high
likelihood and it may be currently imminent! You must act to protect
your current purchasing power against the hyper-inflation that is
coming.

What follows should engender an understanding of the goofiness of
any candidate parading before us telling us how they are going to spend
MORE of our money. It doesn’t matter what their “pet” issue is, there
is no money for any of it other than what they will print. And those of
you who would vote for McHilama and are not only allowing a national
fleecing, but are buying into it with your very livelihoods. I will
never do this again. I will write in Ron Paul. Here is why:
Our currency is backed by nothing other than the world’s “faith” in
the American government’s ability to make good on their obligations and
the long standing Bretton Woods agreement that the US Dollar would act
as the world’s reserve currency. This means that any country wanting to
buy oil, must have US Dollars to pay for it. This has served to “prop
up” the value of the dollar for as long as the phenomenon continues as
the dollar’s value was defined in its use. Don’t expect this to last
past 2009. Chavez has already begun selling in Euro’s and the Iranian
Oil Bourse is open and trading in Euro's and Yen. This is the reason
behind our stance towards them and the reason another Carrier has
entered the Gulf.

continued...

Part 2

Our currency is a fiat currency that was ripped from any controlling
valuation standard (like gold and silver) in a process that began in
1913 with the advent of the Federal Reserve Act and culminated in 1972
with a complete repudiation of any gold standard. America had printed
and spent too much during the Vietnam War and was, by all measurements,
broke and unable to pay its’ international debts in gold.

It is important to note that that all un-backed fiat currencies
collapse. ALL! And they all collapse in relatively the same manner. At
the very least, we have an irreversible financial crises ahead. With
this said, you must understand that it is incumbent upon you to be
aware and be ready for it. I see this happening sooner rather than
later...much sooner. And while I am also driven by the desire for a
more wholesome, rural environment for my son to grow up in, this "state
of affairs" is certainly a factor in our desire to get to the mountains
and get settled as soon as possible.

We have 80,000,000 baby-boomers reaching retirement age over the
next few, but very important years. They will be required by law to
begin to draw down their retirement accounts which will create its’ own
downward pressure on the markets…a phenomenon that will begin this year
and accelerate for the next ten years. The National Debt is currently
at $9.4 Trillion, and most assuredly will be over $10 Trillion by the
end of the year. The last estimate that I heard given, regarding the
amount of unfunded liabilities and entitlements owed by the government,
was $62 Trillion (This number seems to fluctuate each time I hear it
referred to but, in any case, it is above $55 Trillion). These
“unfunded liabilities and entitlements” consist of the money we will
have to pay out for Medi-care, Social Security, and Welfare.
Add these deficits and estimates together and you get $71 Trillion.
That is $71,000,000,000,000.00 that we owe to the government to pay for
these obligations over the next few years! Forget about continuing
operations, forays and whims, I simply speak about what we currently
owe. Just as a matter of perspective, and since these huge numbers are
bandied about in the news like it’s just another dinner out…If we were
to stack 71 Trillion crisp, new One Dollar Bills, one on top of the
other in banded stacks of 100, the stack of bills would reach
11,205,808 Miles! That is the distance from Earth…to the Moon…and back…
23 times! Or another way to look at it…If you were to sit and count to
71 Trillion, and you did it constantly, 24 hours per day, 7 days per
week, 52 weeks per year, you would finish in about…oh….6,745,000 years!
Given that we have 300 million people in the U.S.A., $71 Trillion in
government debt is the equivalent of $236,000.00 of debt for every man,
woman and child in the country…a mortgage for each of us without the
house to back it! Usually one would then further extrapolate the $71
Trillion across only the swath that “actually pays federal income tax.”
While statisticians would want to “adjust” this figure to reflect the
fact that not everybody pays taxes, such jockeying belies an improper
assumption about how the monetary system works…as you will see…
Yes, this is the government’s debt for all of the wonderful gifts
that we've voted them into office to "give" us and collectively we
somehow are able to emotionally and intellectually separate ourselves
from this as if someone else will have to pay the tab. Typically we
think that this has little to do with the exigencies of our own
personal lives and it really has been “nice” to have other “more
knowledgeable” people thinking about these things as it has allowed us
more free time to pursue our personal desires. This is far from the
truth.

First understand that, as an American, and since this is your
government, these funds can only come from one place...either by hook,
or by crook, that place is your pocket. You will have to pay these
governmental bills in addition to all other living expenses. Since our
Income Tax and other federal taxes brought in $1.8 Trillion in 2007 and
we are currently operating on $2.4 Trillion, we increased the amount we
owe by around $6.00 per person, per day just in deficit spending and as
a numeric measurement of the increase in the debt in 2007 alone. This
year’s projected budget deficit, as mentioned by Ron Paul at Goucher
College, is somewhere in the vicinity of $750 Billion, a number that is
probably negatively suspect given all of the subterfuge and lies that
seem to be growing unabated in Washington, DC. Bush has just proposed a
budget in excess of $3 Trillion for 2009 and the economy has taken a
downturn which will further apply negative pressure to the Government’s
revenues for 2008 and the foreseeable future. In this very same
environment, deficit spending will now reach over the $1 Trillion mark.
But wait!...There is more…so much more...

Elected government officials are typically judged by, and re-elected
for, what they can bring back to their constituents from Washington.
Other than Ron Paul who has been trying, I have no imagination that
would have any of them ever telling us the truth about this…at least
not until it is too late (which it already is). Political reality says
these things will be paid and since we don’t currently bring in enough
money to pay for current operations, the only way for that to happen is
by printing the money. What crushes me is that almost every person I
talk to about this doesn’t know what this means and some think that I’m
a bit crazed in my assumptions. What makes matters worse, is that most
people are completely oblivious as to exactly how money is created and
exactly how much inflation results from a few billion dollars in
government spending…like the stimulus package the government is
providing right now.

As it is my newly adopted habit to steer anyone who is in financial
literacy limbo to the book "The Creature from Jekyll Island" by G.
Edward Griffin, and given that you are a bit further on than most, I
will recommend it to you but take the time to at least address the
"Mandrake Mechanism" which is how money gets "printed" in this country.
It is something very few people know, even though it is not that
complicated.

We exist under a system of fractional reserve banking. This means
that banks, desirous of your deposits spend money and effort in
attracting your business by providing an enticement of interest...let's
use 3% for illustrative purposes. They make their money via fees and
interest they earn when they "loan" the money that you have deposited
to others. But, and this is a big “BUT", per the fractional reserve
system, banks are allowed to lend more than what is deposited by their
customers…nine times more!

Say I deposit $10,000.00 into M&T Bank. M&T has increased
their cash reserves by my $10,000.00 and may now, under the rules of
the Federal Reserve System, loan out nine times the amount that they
have on deposit. This means that they are able to write loans of
$90,000.00 based on my $10,000.00. This is absolutely no different than
turning the presses on and letting them rip...exactly the same! They
pay me 3% of $10,000.00 or $300.00 and receive say 6% of $90,000.00 or
$5,400.00. Hearing this kind of makes you want to own a bank, doesn’t
it?

As the creation of money is now mostly a computer transaction, it
only takes a little time and a calculator to understand how much money
is about to be printed from $750 Billion in deficit spending that
ultimately ends up in the banks. Here...I'll help you...it turns into
$6.75 Trillion over the course of the next couple of years! Never mind
that mortgages may be harder to come by, the loans will instead be
provided in other sectors of the economy or to third world countries
through interaction with other banks, the Fed and the World Bank/IMF.
It is their “right” to print it, and print it they shall for how else
are they to earn money? It is what they do!

Now take the estimated deficit spending of next year of $1.25-$1.50
Trillion and you will see that this will result in "new money" being
printed in the amount of $11.25-$13.5 Trillion because of next year
alone! This means that the actions of the Government in collusion with
the Federal Reserve will generate an increase of the money supply over
the next few short years of approximately $18 Trillion give or take a
Trillion or so. What results from this is illustrative of the law of
supply and demand at its most blatant...as more dollars are available
to chase the same goods (supply increase) prices rise or in other
words...inflation results.

In 1980, and using round numbers, the M3-the money supply, was
approximately $2 Trillion. Since Congress has no problem spending what
they don’t have, the presses, by 1990, had increased the money supply
to $4 Trillion. Between 1990 and 2000 it increased again to $6
Trillion! Between 2000 and 2007 this jumped to $10 Trillion…20 year’s
worth of inflation in just 7 years! And now we will see the
hyper-inflationary environment kick into high gear as we go from $10
Trillion to $28 Trillion in the next 4-5 years!!! Here is a graph
showing the progression thus far:
http://upload.wikimedia.org/wikipedia/en/9/95/Components_of_the_United_States_money_supply2.svg]http://upload.wikimedia.o
Revision Note:

My illustration above was originally meant to explain how this works
and what results from the periods I mentioned, this year and next. This
is inadequate and to understand that the full extent of the problem is
actually worse we must take into account the last few years as their
affect has yet to be realized. The inflation of the deficit dollar by a
factor of 9 takes place over a period of 2-4 years after the deficit
dollar is spent. My illustration made no reference to the deficit
spending since 2004 so here you are:
2004 - ($567 Billion) x 9 = $5.1 Trillion
2005 - ($493 Billion) x 9 = $4.4 Trillion
2006 - ($434 Billion) x 9 = $3.9 Trillion
2007 - ($600 Billion) x 9 = $5.4 Trillion
While 2004 may be pretty well "baked in" to the present $10
Trillion, most of this hasn't even seen the paper loaded into the
presses and some of it will be mitigated by the failure of loans on the
books which will stall their abilities to inflate since the decrease in
their reserves will alter what they can do. But with the deed done and
the basis for inflation already loaded into the tanks, surely you can
see a decidedly anti-deflationary engine is rumbling to life.
The banks are in possession of, and earn their money from, debt
instruments like mortgages, car loans, construction loans etc. These
instruments are also hard hit by the inflation once it is fully
absorbed into the system. The value of these and the purchasing power
of the income generated from them decreases right along with the value
of the currency. All of this exists while operational costs continue to
rise rapidly with inflation. So, you can see that there exists a
systemic need for them to continue to loan out more and more money just
to keep up with their own expenses.

continued...

Part 3

Add to this that the government’s numbers are being fudged and
market indices are being manipulated to paint rosy pictures that are in
effect a complete fallacy. For instance, which stock market index do
you think still includes ENRON as part of their “calculation”? None.
This means that the true reflection of the debacle no longer shows in
the measurement of the performance of the markets. This is common for
components to be “de-listed” which, in effect presents a false
interpretation of economic performance.

It is my understanding that we have measured inflation via an
accepted methodology for many decades until just a couple of years ago.
What makes up “GDP” has also changed to reflect and include re-selling
of imported goods manufactured off-shore by non-American workers. This
is improper as GDP is supposed to be the measurement of “our” output.
Further, using the new methodologies, we were told that we experienced
2-4% inflation last year. I don't know about you but it felt like a
truck load more to me. I paid $3.19 for a half gallon of organic milk
last year. Today it was $4.05! I don’t have to say anything about
energy costs. If we were to return to the calculation methodology used
for years and years, inflation last year was above 12%!
Given the now overwhelming flow of notes from their ethereal
printing presses, the Fed’s weapons against inflation, the manipulation
of higher interest rates to slow borrowing and the repurchase of
outstanding Treasury notes to decrease what is in circulation will no
longer have an appreciable affect. Interest rates can’t be raised as
this would stick the bayonet firmly in the breast of the housing market
thereby bringing about the immediate and total collapse of the economy
and the failure of the banks. Any winding in of currency via the
re-acquisition of Treasury bills would in effect only decrease the
originally printed dollars and have no appreciable effect on the
expansion dollars in circulation. Add to this the indisputable fact
that there is no move to curtail deficit spending and the writing on
the wall grows in its clarity on a daily basis, certainly as we watch
the numbers climb on the placard of the local gas station.
Now let's re-examine my previous statement that a statistical
adjustment of the $71 Trillion, to take into account the fact that not
everyone pays taxes, is really a canard. Imagine if you are some little
old lady (or maybe you are) who is relying on the stipend provided by
her questionable Hero...FDR. You may get a whopping $1,600.00 per month
to live on. Can you imagine the effect that a hidden inflation tax of
12 % has on her? What will it be like next year when inflation crests
15 %? Can anyone absorb a hit of 25 % of their income in two years? And
what about the year after that as inflation picks up speed? What about
those on welfare? What about the working poor? What about you?
There are many in our society who exist either on a fixed income or
on menial wages and nothing exists to change this. We are not the
country that slipped into a morass in 1929. While the means of
production sat idle for a few years, the means of production still
existed. They no longer do...at least not here. They are in China,
Taiwan, Sri Lanka and many other places…just not here. They have been
dismantled and shipped off-shore. The "good jobs" that politicians love
to crow about and promise you in their campaigns are non-existent and
no stimulus package will bring them back prior to our joining the Third
World! NAFTA and the WTO saw to that. Can't you hear Perot's "Huge
Sucking Sound" now?

The last, though certainly not the least, problem is the high
likelihood that the dollar's time as the world's reserve currency will
end VERY, VERY soon. The threat of the loss of this position is why we
are in Iraq as Saddam stopped taking dollars for oil in 2000. We
invaded under pretext 6 months later. Iran's Oil Bourse has come on
line and is being traded in Euro's and Yen which is why we are moving
carriers into the Gulf and looking at them hard. Being the reserve
currency means that people (countries) must own dollars so they can buy
oil. This artificially props up the value of a currency which has
allowed the collusive Federal Reserve/American Government “conspiracy”,
and somewhat criminal partnership, to foist their scam on the world.
The world is now wise and given the talk in OPEC, will soon dump the
dollar in favor of a basket of currencies. This will be the end for the
dollar.

In the Weimar Republic of Germany, in January of 1919 and towards
the end of WWI, one ounce of silver sold for 12 marks. Due to the
punitive Treaty of Versailles in June of that year, Germany had been
forced into a surrender that included massive fines and recompense to
her former adversaries. Within 4 years, by January of 1923, as they did
what we are doing now...printing the money to meet their obligations,
silver went to 23,277 Marks per ounce and one year later in January of
1924, the price of one ounce of silver rose to 543,750,000,000 Marks
per ounce! Yes that is 543 Billion Marks per ounce! As more marks
flowed into circulation, the amounts of marks chasing the same goods
and services grew and so did the prices. This is known, of course, as
“inflation”, or in this case, “hyperinflation leading to collapse of
the currency”. With an equivalent collapse in our own economy do to the
debasement of the currency, we will be facing the proverbial scenario
of needing a “wheelbarrow of cash to buy a loaf of bread”. Given what I
have already painted with regards to the amount of paper that such an
amount would entail, one can see what a highly inadequate illustration
this really is.

I was recently sent the below link by my father whom I had been
urging to read the book, “The Creature from Jekyll Island”. The book
completely explains the history of the Federal Reserve and its
collusive and often nefarious activities over the years. It also
explains in very understandable, even simple terms, the mechanisms of
its operation.

As the book is almost 600 pages long, it can be daunting to most
people. Even though the film I am linking to is sufficient in teaching
you what is most pertinently of concern to us all, you should still
commit to read the book. It is information that will be important to
you in the future. Please don’t be afraid. It is a great book and it
reads like a detective novel, not a textbook. It is actually exciting,
complete with its intrigues and the conspiracies of powerful men.
It really is one of best books I’ve ever read…and I read a lot. Once
you have read this, you will never see the world in the same way again.
You will also come away from it like a child with a new skill. You will
have been completely informed about money and history but now you will
possess an eye for the intrigue and subterfuge that most don’t see. It
is information that may actually save you great financial pain and
allow you the knowledge to maneuver through the troubled waters ahead.
Were everyone to know and understand what is in this book, and so
have opened eyes as to what we have allowed politicians to do to us, I
believe that neither the Republican, nor the Democratic parties would
continue to exist and we would have a return to small constitutional
government in short order. It is my hope that in such a utopia, we
would regain control of our airwaves again…but that is a subject for
another dissertation.

Please watch this video. This is the author of “The Creature From
Jekyll Island” G. Edward Griffin, explaining the pertinent facts of the
book, and the danger that is now upon us. Keeping the aforementioned
example of Germany in mind, listen for and truly understand how the
Mandrake Mechanism works. Griffin gives a very simple and
understandable explanation of the effect. Once you understand how the
government gets its money, and what the banks then do with this money,
you will fully understand what is happening with every additional
deficit dollar spent and see how bad this will get in the not to
distant future. Hopefully you will now have the information and the
knowledge to see the pitches being thrown, and act to safeguard
yourself and your assets, as the pitches are now being hurled at your
head.

http://video.google.com/videoplay?docid=6507136891691870450

David Walker, the Comptroller General of the United States for the
GAO has been traveling the country over the past two years trying to
warn the public about what the government is doing to us. Sadly, he
just quit his job for a position in a CFR think tank, so they have now
shut him up by their preferred method...draw your own conclusions...
Of course the numbers Walker cites have changed. They have gotten
worse. The only problem with his scenario, and it wouldn’t surprise me
if he didn’t understand it, is that there is no discussion about the
effect that all of the Trillions in new money placed into circulation
is going to have on the ultimate money supply and value of the dollar.
He only speaks of the debt burden.

Remember, when the government calculates inflation now, they are now
using a different methodology than they used just a few years ago.
Their new method says that we saw inflation of 2-4% last year when, had
they used the proper method, or at least the method they have used for
years; the rate would be more like 12-14%...you know…the rate we all
felt. Also, in March 2006, the Federal Reserve stopped reporting the M3
which is basically the money supply report! The Fed stated:
“M3 does not appear to convey any additional information about
economic activity that is not already embodied in M2 and has not played
a role in the monetary policy process for many years. Consequently, the
Board judged that the costs of collecting the underlying data and
publishing M3 outweigh the benefits.”

In a heated Congressional meeting this summer, Ron Paul took
Chairman Bernanke to the woodshed over this and he just did it again
recently…accompanied by cheers from the trading floor in Chicago. The
traders on the floors of the exchanges were chanting his name as he did
so. Those with monetary policy intelligence apparently know exactly
what is happening to us. Below are both a video David Walker produced
in 2006 and a 60 Minutes interview from early 2007
.
http://video.google.com/videoplay?docid=3041690307648309166&q=walker+gao&total=22&start=0&num=10&so=0&type=search&plindex=1

http://video.google.com/videoplay?docid=-7461407498377956300&q=walker+gao&total=22&start=0&num=10&so=0&type=search&plindex=0

I am also including a link to a Youtube poster’s account. The owner
of the account has posted numerous clips from a seminar given by
economic experts David and Donald McAlvany. These will hammer home the
very drastic and dangerous future that is upon us. I am providing this
information to warn you so that you can make plans to protect yourself
and your families. Good luck in all that you do. I hope this
information comes in time for you to make the necessary adjustments for
survival.

http://video.google.com/videoplay?docid=-2515147010960454152&q=mcalvany&total=12&start=0&num=10&so=0&type=search&plindex=3
Here is Kiyosaki talking about this problem.
http://www.richdad.com/RichDad/RichContent.aspx?cpid=63