As they say, you can always judge a society by how they treat their weakest members. So I shudder to think of how future generations will judge our society. We’ve become a nation that discards our poor like they are trash, and anyone who doesn’t “fit in” is segregated from the herd.
The police are now fining homeless folks for any arbitrary offense they can think of, and city councils across the country are making it illegal to sleep in public. They’ve gone so far as to make it illegal to camp, or even sit or lay down in certain public areas. Worst of all, many cities are making it illegal, or prohibitively expensive to give food to the homeless. According to an interview from The Independent, with a former police chief involved in a charity dedicated to feeding the poor:
The homeless are an embarrassment for the town, said Arnold Abbott, a 90-year-old former police chief from Pennsylvania and director of Love Thy Neighbor, an organization that has been feeding homeless here for over 20 years. Five times the city has tried and failed in court to stop him serving meals each Wednesday on the beach beneath the tourist strip.
The town, he said, really wants the homeless to go away. “They would like to put them in a bus and send them to Miami or Palm Beach. It’s very close to ethnic cleansing. But they are not going to succeed.”
Thank God there are still some people willing to do the right thing, even if it means breaking the law.
In other cities, you now need a $500 permit from the health department to give away food, or perhaps you’ll have to spend $800 to rent the park every time you try to hand out food there. On the surface, it’s bad enough that they are making it so difficult to help out those in need, but when you take the homeless out of the equation, it starts to sound really asinine. To the city councils out there that are perpetuating these laws, are you really going to make it illegal for one consenting adult to buy a sandwich, and voluntarily give it away for free to another adult who wants it? When it’s phrased that way, doesn’t it just sound utterly contemptible and insane?
By Greg Hunter
August 4, 2014
Analyst/trader Gregory Mannarino says the recent Argentina bond default is a big deal and is a symptom of a much bigger global problem—debt. Mannarino explains, “I’ve been talking about the insurmountable debt problem for years now. It is the greatest threat to humankind—period. What really needs to be understood here is that it is not just a financial issue, but also a resource issue. We have been allowed through this mechanism of failing monetary system that pulls cash out of the future to acquire resources that we would not normally have. We have created an alternative universe.” Mannarino goes on to say, “Yes, Argentina is in default now, and we have at least 10 of 11 more that we know of. As an analyst, I look for common themes. What is the common theme here between all of these nations, including the United States of America? It’s very simple. It’s their debt to GDP ratio. Whenever you have a debt that exceeds your gross domestic product (GDP), the country begins a terminal decline. That’s it, period, the end.”
Think this economy can last? Think again, as Mannarino says, “We have all been hearing that the global debt is not sustainable. What does that mean that it is not sustainable? That means that we cannot continue this mechanism of pulling cash out of the future to live in this alternative universe. Mannarino says what makes this situation so “dangerous” is exponential leverage of derivative bets that are hidden in the system. Mannarino contends, “It’s in the quadrillions, and the thing about this is they are all off-the-books. No one knows what this number actually is when we are talking about derivatives.”
So, with the help of derivatives, can a big bond default, like Argentina, cause a daisy chain of default in the future? Mannarino says, “This is what we saw in 2008; but this time, it’s much, much worse because nothing was fixed back then. This issue with Argentina is going to trigger a credit default swap event. A credit default swap is an insurance policy that is purchased by another entity to insure the debt of another institution or, in this case, country. So, we just found out that the issue with Argentina is, in fact, going to trigger a credit default swap event. What that means is whatever debt is owed is the problem of another entity. And, if that entity can’t pay it back, it becomes the problem of another entity, and another entity, on and on. So, absolutely, boom, boom, boom, a cascade of events that will happen. This is not a maybe. We are going to watch this sweep the globe. We are going to see, at one point, an absolute failure and collapse of the financial system. 2008 was when the music stopped, and this is the terminal side effect. They are not done yet because they are going to do some more things to keep this whole system propped up. That’s really all they can do because the system is dead.”
The world added more debt to a debt problem in 2008, and Mannarino says, “That’s like pouring water on a drowning Man.”
Join Greg Hunter as he goes One-on-One with Gregory Mannarino of TradersChoice.net.
By: Jim Willie CB
Jul 31, 2014
The contributors are many as actors in the American Tragedy, to cause the systemic breakdown failed state. Faulty monetary policy, economic policy, and political policy have caused the resulting failure. The primary perpetrators are the central bankers, led by Greenspan and Bernanke. These two men have done more to destroy the — USEconomy, the US financial structure, the US currency, than any two men of prominence. To be sure, the Bush, Clinton, and Rubin gang played a huge role in the collapse. Their supporting cast of destructive actors is very long, like the serial bank criminals residing on Wall Street. To be sure, the system itself has played a key role in the harmful factors. The two most apparent harmful resident factors are the strong US labor unions and the influential environmental movement, which together encouraged the vast outsourcing of US industry at first to the Pacific Rim, and then fanning across the developing world. Both workmen compensation and OSHEA regulations interfered with US cost settings, but not as much as USGovt corporate taxes. The textile industry went to India and Pakistan, even Bangladesh. Call centers went to India, Philippines, even Costa Rica. The culprits are too numerous to cite.
Corporations in general sought out any foreign nation with fewer rules, and weaker unions in which to conduct business at lower cost, with lower taxes and lower fences in regulatory oversight. In the last decade, the destruction of the US system, both financial and economic, has been in a greatly accelerated mode. Almost all actions by the USGovt to defend against defection and defiance have resulted in amplified reaction by the East in opposing the USDollar system and all its many features, devices, weapons, and subterfuge. The motive for actions taken are clearly in defense of the King Dollar Regime. The responses taken are clearly to reinstate the Gold Trade Standard and no longer deal with a toxic USDollar for trade and banking. The unintended consequences are uniform if not universal. The outcome will be to develop the Eastern Gold Trade Standard while the entire Western system crumbles, deteriorates, sinks, and implodes. Review a list of factors, events, and reactions, the common theme in unmistably fashion, is a tragedy extending from the original sin, breaking the Gold Standard. The United States has given the world two choices: war to defend the USDollar, versus work with Eastern Alliance toward the Gold Standard.
The nations of the world will choose commerce and trade eventually, and turn their backs on the United States. They will return to Gold. The BRICS nations will in the next several months possibly install a gold-backed currency for usage in the Eurasian Trade Zone and elsewhere. The threat of a Returned Gold Trade Standard is cause for war with the United States. Thus the series of wars, in hidden defense of the USDollar, with distractions galore on declared reasons of thin type. The BRICS Development Bank is a cover for a Gold Central Bank. The interference is universal by the USGovt and Wall Street bankers in control. They risk sinking the entire global economy in order to preserve power. Before they chose to prop insolvent banks, instead of liquidating them. Now they choose to wreck the global economy. They want global fascism, a veritable hell on earth.
30 Jul, 2014
by Dave Hodges
What will happen first? Will we fall under the specter of martial law and all that entails? Or, will we experience an economic collapse prior to martial law?
In the present state of affairs, it is very easy to focus on the invasion of America through our Southern border as the Fifth column insurgents make their way into the country in the form of MS-13 as they prepare to wreak havoc on any opposition to the coming takeover. We are also focused on the presence of unscreened immigrants coming into our country and who are failing to be screened for very serious health conditions such as Ebola. It easy to become fixated on things like the NDAA and unconstitutional, permanent detention. We are very focused on the shoot down of MH-17 and preparing for war with Russia. However, what we should be focusing on is the economic collapse which has already began.
Before we continue with the analysis of what comes first, let’s interject some common sense into this analysis. The global elite need a horrific war to rid themselves of the old system and usher in the new system. Out of chaos comes order. This will set into motion the depopulation agenda that will accompany this coming martial law and World War III. We know the globalists seek to maximize profits at every turn. Therefore, one should ask themselves the question, “How can they globalists make the most money as they usher in the New World Order? The answer is simple, if they want to realize maximum value for their efforts, they should steal as much money from the American people as possible, before collapsing the economy.
Why An Economic Collapse Will Happen First
America only has to look at three economic indicators to know that we are in a lot of trouble, The budget deficit is $17 trillion dollars, unfunded (partially or otherwise) mandated social programs constitutes another $222 trillion dollars and the credit swap derivatives total between $1 quadrillion dollars to $1.5 quadrillion dollars. Based upon these numbers, America has clearly been set up to fail.
When we look at Social Security, Medicare, Medicaid and all the government programs that we all take for granted, the price tag is a whopping $222 trillion dollars. These numbers are going to be exacerbated and grow exponentially because the bulk of the baby boomers are entering retirement age. Even if we took every single penny that the federal government takes in and devote it to paying off these social programs, it would take 111 years to pay off this debt.
In the United States, credit swap derivatives created national debt totals of over one quadrillion dollars. That is one thousand trillion dollars! The entire GDP of the planet is estimated at $66 trillion dollars. And somehow, in the infinite wisdom of Congress in 2008, we falsely and naively believed that a $750 billion transfer of wealth (i.e., Bailout #1) was magically going to save the economy and the collective futures of the American middle class. In short, the debt created by futures speculation is approximately 16 times greater than the sum total of the entire wealth on the planet! And we think we are going to climb out of this? We could fund 1,000 bailouts and the eventual outcome will be the same, slavery by debt. We are being held in place, while our financial assets are being separated from our soon-to-be dead corpses.
By Greg Hunter
July 30, 2014
Real Estate expert Fabian Calvo says boom bust housing crisis is on the way. Calvo explains, “There are a lot of outlier indicators that show the run-up to another big boom in housing prices. If you look back and consider my theory of the ‘pump and dump’ in March of 2012, when I said housing prices would shoot through the roof, housing prices are up over 26%.
We are entering one of the most dangerous periods of the housing market with the manipulated, Ponzi style booms similar to what we say in Dow Jones and the stock market.” Calvo goes on to say, “I am often surprised that the real estate market is not talked about more. It is a central key component of the overall Wall Street Ponzi scheme that they are running in the West, and really globally, when it comes to propping up the dollar and propping up financial markets.” Calvo contends there are signs the power players are getting ready to dump real estate. Calvo says, “John Paulson, we know he made billions of dollars betting against subprime; he knew the handwriting was on the wall. What’s he betting on now? He just put in a half billion dollars to buy a big company called Realogy.
Realogy happens to own Coldwell Banker, Century 21, ERA, Sotheby’s; so you see what he’s doing. We also know Warren Buffett bought Prudential. They are buying up these real estate brokerage houses because they know this new wave of real estate is going to be anyone who can fog up a mirror will be able to get a loan, including the millions of illegal aliens that are flowing over the border. They are going to be giving loans to them as well to buy up these homes.” Calvo, whose company buys and sells $100 million worth of real estate annually, also points out, “You have these housing companies who own millions of properties, and they are already starting to sell mortgage-backed securities and securitizing these bundles.” Calvo thinks it’s deja vu all over again, and what will happen? Calvo says, “Soon enough, the same thing that crashed the market in 2007 and 2008.
That is such an incredible development in the housing markets, and the greater ramifications in the housing markets are huge.” Calvo also says, “This is really being done to mask the systemic problems we have in the economy. It’s kind of this idea of bread and circuses. If you have people getting money, basically free no money down loans where people can buy homes and buy cars, they’re not thinking how bad this economy really is. It is such a symbolic end-of-the-road type of indicator for me.” Calvo adds, “I would say the U.S. dollar is wounded.
The criminal bankers on Wall Street are cornered, and that’s why they need to get people’s minds off of things by blowing up this economy again to the upside before a big letdown.” On the strength of the U.S. dollar, Calvo claims, “I absolutely believe there is going to be a crisis or collapse. I have it on pretty good word that, in the next six months, there is going to be some kind of shock to the U.S. economy. But it will be spun that it is going to be a good thing. People need to understand, that this time around, it’s not just going to be housing. It is going to be this multi-bubble collapse that is going to take the bond market down, the dollar down, and the stock market down. They are all going to collectively implode.” Join Greg Hunter as he goes One-on-One with Fabian Calvo, founder of TheNoteHouse.us.