Posts Tagged ‘crisis’

Fiscal cliffThe mass media misled Americans, and the world, about the phony U.S. debt fiscal cliff non-crisis in at least two big ways:

1) There was never any threat of defaulting on the U.S. debt as a result of not raising the debt limit, as federal revenues still exceed interest and principal payments on the federal debt. The consequence would be that the federal government would have to return more closely to its constitutional boundaries, in cutting back the >40% of every dollar spent that it is currently financing by borrowing.

2) The U.S. doesn’t depend on borrowing from any country or individuals — the Federal Reserve could buy up as many Treasury Bonds as it wants, and return most of the money back to the U.S. Treasury, as it is required to do by law, after paying its expenses, and shareholders. This is what the government’s been relying on since 2008 anyway. This will result in the eventual destruction of the USD, as this borrowing isn’t subject to the same kind of scrutiny by big lending countries like China and Japan.

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Ellen BrownListeners can enjoy Ellen Brown’s regular appearances on Crisis of Reality on Oracle Broadcasting with Doug Newberry.

Since the show’s inception in August of 2012, Ellen has been on seven times:

March 12 – Wealth inequality

February 25 – The economic crisis

January 22 – The trillion dollar coin

December 20 – Public banking

December 19 – Financial slavery

September 26 – Public banking

September 6

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English: A Greek flag waving.

Despite the likes of Gary North and the Daily Bell continually propping up an artificial demand for gold in the minds of their readers, Gary North himself has written a July 17, 2012 article at LewRockwell.com pointing out how Greeks have turned not to gold, but to new digital currencies in a time of crisis.

They use a digital currency called TEM.

“In the network, people can trade their goods and services,” says Christos Papaioannou, one of the network’s founders. “If I do a service for you, then you owe me a favour. And I can use that favour to get some service from someone else. So, we don’t have to exchange directly, I can get it from some third person.”

To be clear, there is no actual currency or scrip exchanged. Credits are tracked via an open-source community banking software system called Cyclos. Katarina, for example, banks her credits from selling jam to buy staple foods such as eggs and fresh vegetables that are offered through the network.

This is not the only such system in Greece. They are everywhere.

If gold coins are such a superior means of exchange, where is the Daily Bell and their contributors with ties to gold dealers in promoting their so-called superior free market standard and cashing in on such an opportunity?

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On Wednesday, January 20, 2010, Prince Alwaleed bin Talal was on the Charlie Rose show, and gave some candid assessments, most notably, about the current state of the U.S. First, some background:

CHARLIE ROSE: Prince Alwaleed bin Talal is here. He`s chairman of the Kingdom Holding Company, the Saudi investment firm with billions invested across the globe. “Forbes” ranks him as one of the world`s 25 wealthiest people. “Time” magazine once dubbed him the “Arabian Warren Buffett.”

His firm has major stakes in banks, real estate, hotels, and media companies. His largest investment is in Citigroup, the embattled bank where he is the largest shareholder.

Then, he made the following candid statements about the U.S.:

CHARLIE ROSE: And what do you think of America and our future?

ALWALEED BIN TALAL: I like to summarize, but if you want I can elaborate. America is down, not out.

CHARLIE ROSE: But that`s not good.

ALWALEED BIN TALAL: I know, but you`re down now.

CHARLIE ROSE: Down in what way?

ALWALEED BIN TALAL: There was a book written about the Islamic world “What Went Wrong.” I think right now you could write a book about the United States what went wrong politically, economically, financially, you know, the crisis that you`re in right now. You`re a mess. You are in a mess in the United States. I have to be honest with you, because I love the United States. I admire the United States.

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