" Economic Meltdown Favors The Elite; Artifical debt creation coupled with devaluation of the dollar has greased the skids for predatory globalism" by Infowars.net Friday, August 10, 2007
The Stock Market has again plunged several hundred points in trading in addition to yesterday's downturn as the markets continue to gyrate. Though economic experts all agree that this spells bad news for the delicate US economy, the Federal Reserve and the central banks seemingly do not believe it to be a significant problem.
Stocks have continued to fall amid ongoing credit concerns. AP reports:
Wall Street skidded further Friday as investors again succumbed to anxiety over tight credit conditions even after the Federal Reserve said it would do all it can to "facilitate the orderly functioning of financial markets." The Dow Jones industrials came off of their lows after the Fed added a second dose of liquidity to the markets.
The market, which has been gyrating for weeks over fears that credit is drying up, began to pare its losses after the Fed's latest injection of cash into the banking system Friday. The day's declines, however, showed the depths of fear that have investors yanking money out of stocks.The Fed added another $16 billion in liquidity to the market at midmorning Friday, supplementing the $19 billion added earlier in the day.
Listen to Alex Jones' short rant on this issue here.
Confidence has been shaken worldwide and the global economy is in crisis. The Dow Jones has plunged almost 400 points in the last two days on subprime mortgage concerns that are now spilling over into other areas of the residential mortgage market such as the jumbo loan market (borrowers with loans above $417,000) and also mainline standard mortgages which investors are turning away from en masse.
The European Central bank has put in around 200 billion dollars so far to ease concerns, yet the figures continued to spiral downwards. The Federal Reserve was expected to put in double that figure in order to reverse the trend but instead has only injected $19 billion, akin to putting a band aid on a hatchet wound.
The current crisis is an illustration of how artificially inflated the markets are and how much debt has been created by design by the private banks.
The Fed is now being pressured to cut interest rates in an effort to spur credit and expand the cheap credit boom which is driving the stock market. However, this will result in an even further plunge for the dollar which has already been devalued by 40+% over the last few years.
As the dollar goes into free fall and the housing market accelerates in sales yet plunges in price, the quickening of an agenda of economic catastrophe allied to the "solution" of predatory globalism spells potential disaster for the livelihood of all Americans.
Establishment mouthpieces tell viewers to go back to sleep while former World Bank chief economist and nobel prize winner Joseph Stiglitz predicts a global crash - caused by the very predatory globalist policies of the IMF and World Bank that are still presented to us as the solution for economic turmoil.
A global crash and a totally devalued dollar that can barely rival the peso spells disaster for all Americans who wish to maintain their standard of living and not find themselves barefoot on the street in a bread queue.
But fear not, because the very predatory globalism that caused all this calamity in the first place has yet another answer to our prayers! It's the Amero, the North American currency that will unify the States, Mexico and Canada and its latest cheerleader is influential London investment firm VP Steve Previs.
The Amero would offer a nice umbrella under which to force through the Free Trade Area of the Americas and a North American Union, an eternal dream of the Rockefeller elite clique that is seeking to erect a one world government system by first aping the European Union in creating a single currency and trading bloc, again to the devastation of middle class America but to the delight of transnational corporations who can exploit cheap labor while putting millions of Americans out of a job.
The fed and the plunge protection team are not going to rescue the situation. Gold and silver continue to remain stable and steadily growing assets and we encourage all our readers to build a sizable portfolio in order to offset the coming meltdown that the cavalier and dangerous financial policies of the U.S. government, along with the ceaseless march towards global government, will inevitably engender.
Printed from: http://infowars.net/articles/august2007/100807economy.htm
