the end of the moldy-Volde-ThingY? draft, as of 20:46 pm, 14 September 2007
for the benefit of the youth and students in our Ojai audience, those who will have been brought up in the Ojai Valley Newspeak -- without benefit of truth or sincerity on the part of their 'educators' -- I am going to attempt a full background on the economic crisis confronting the US, Europe, and the World at this time. parts of this you will know, from reading previous OjaiPost reports, or following the increasingly emotional dialog in the media and amongst our families and friends -- as to the falling US Dollar, the 'Falling Treasurys', the rising Gold prices, the exponentially expanding Derivatives monster, the 'Sub-prime Loan Crisis', the China Gauntlet, and Private Banking and the Debt-Based Monetary System. when I grew up in Ojai, in the fifties and sixties, it was still largely true that "money in the bank" came from gold and commodities, or at least was backed by cash, paper money. the tens of trillions of dollars of debt did not then exist, and a global military police state was not required to maintain the flow of wood and food and minerals and products to North America. [ten times our share of the world's products, mind you.] the US had conquered the world with its automobile and aircraft factories, and the nuclear bomb, and demanded the lowest prices on food and oil, and everything, nearly worldwide. nations who did not agree, disappeared in intelligence wars, and then miraculously re-appeared as ally nations who signed away all their minerals and other valuables to US corporations, for pennies on the dollar. as to banking or economic theory, in order to make its population happy, and voting, believing the newspeak, supporting the wars -- LOTS of money had to find its way into the hands of the US citizenry in order to pay for all of the world's product we 'needed' to buy, to keep us fat dumb and happy while we worked for the corporate machine killing Mother Earth and supporting the military-aerospace production lines keeping the world in servitude. the result was Debt-Based Banking, what we have today. http://en.wikipedia.org/wiki/Debt-based_monetary_system money was created out of thin air, by the loan contracts that the US public signed to buy their land and houses and cars. and for their college educations. banks were only required by the US government and the Federal Reserve to back their accounts with the loan statements from the borrowers. that is, a bank with only a million or a billion dollars actual gold or cash in the vault, could lend out ten million or ten billion dollars, by placing YOUR loan contract in the bank vault. thus when you borrowed ten thousand dollars for a car, or a hundred thousand dollars for a home, the bank simply added ten thousand dollars or a hundred thousand dollars to its bank account ledgers. there actually was NO CASH or GOLD or other valuables in the vaults. for the last several decades ALL the money put into circulation in the Western world has been simply materialized out of thin air, by the keystrokes on the computer creating the money in the bank computers. the money never existed. as of day before yesterday: "The US currency has now fallen more than 2 per cent against the euro in the last week, dropping to a low of $1.3910 against the single currency, breaching the previous record low of $1.3852 it hit on July 24. Meanwhile, the dollar index, which tracks its value against a basket of six leading currencies, fell to 79.404, its lowest level since September 1992." "INVESTORS ALL OVER the world are collectively holding their breath, waiting to see if the Federal Reserve lowers interest rates at its September 18 meeting. They are also looking toward investment bank earnings, specifically Bear Stearns, Lehman Brothers and Goldman Sachs which will soon post quarterly results, to get a better sense of just how very bad the subprime crisis is. While they wait, many investors are taking advantage of the accelerating chaos by selling Derivatives calls and puts." http://en.wikipedia.org/wiki/Subprime_mortgage_financial_crisis enter Bush, Clinton, Gore, Cheney at al and Gold! http://www.google.com/search?hl=en&q=Al+Gore+Clinton+Federal+ReserveGold+Price+A\ ntitrust+Reginald+Howe nearly twenty years ago the Financial powers that be -- centering around Washington DC but including London and all the European, Japanese and Israeli banking powers -- determined to use a well-known covert financial mechanism to keep this monetary elephant of the industrial-state afloat. That mechanism is known as gold price suppression. That is, if the world governments and media PRETEND that the market is free -- and PRETEND that gold and prices are free to rise and all, and PRETEND people actually make capital gains by putting their money and pensions into banks and mutual funds etc -- and then the price of gold is actually secretly suppressed, held down by the western banks and governments, then the OTHER currencies and economies of the world, as in China, Africa, Latin American, the Middle East, Eastern Europe will be depressed, crushed. Their currencies and economies will always drop, while the western computer-manipulated economies go up. thus the monetary scam launched during the Clinton/Gore administration so long ago now, which evolved into the 9/11 StockPlay in 2001. the "Company's" 9/11 StockPlay ended the epic-making global antitrust suit by Reginald Howe: http://www.google.com/search?hl=en&q=Reginald+Howe+Gold+Adam+Hamilton+Derivative\ s+JP+Morgan by bringing down fifty floors of evidence, the offices of JP Morgan Chase which organized the 9/11 Derivatives Market Crash and Gold Price Fixing scams. at that time, Gold which had been held down to about $275 an ounce, was now free to rise -- to the Wednesday, September 12, 2007 price of $706.00 !! Millennium Twain Paraphrased from "Gerald T. Agnew", In EnergyResources: There are two schools of thought on the US money crisis. In a normal world, a country with a horrendous debt problem would crunch its economy (to stifle demand) and raise interest rates to get the capital to keep it afloat. The alternative would be to let its currency (the US Dollar) go to the devil and that would raise the price of imports to the point where purchasing would stop. At the same time, exports would become cheaper and more competitive and hence (yet again!) draw money (pennies on the dollar) into the US. This wonderful, and naive, theory was the norm until a generation or so ago ... [Now money is generated on the bank ledgers in the forms of loans, and is no longer based on gold or cash or assets.] We are at the Dollar-depreciation point today. Lowering the value of the USD would be done by lowering interest rates as the US CURRENTLY CONSUMES 80-100% OF THE WORLD'S SAVINGS just to cover its wanton spending, consumer consumption! If Europe were to garner maybe 10% of that amount (to develop Eastern Europe for example), then this tiny change would cause a mammoth hit on the USD. The Dollar would no longer attract the funds it needs in the tremendous volumes it requires. End of story! Classical theory, as outlined above, would seemingly demand this. These days, this may not necessarily be so. In the age of planetwide servitude, citizen-victim obediance, anything goes. In other words, if the Fed lowers interest rates, then the drumbeat (newspeak, propaganda) will be that cash MUST continue to come to the US at any cost. Because if it does not, then the US will have a balance of payments crisis which will (thank you globalisation!) impact the rest of the world in the most frightening way. [Cause a global market crash.] Media propaganda to keep this fantasy daisychain going is that if one buys US Treasuries while the Fed's cutting interest rates, then the investor would make large capital gains on the bonds as their prices increase. Hear the laughter meter topping out? The entire stock market will also be advertised as "on sale", claiming lower interest rates mean stronger equities. Companies that trade overseas in large volumes (ie Coca- Cola, Microsoft, IBM, John Deere etc.,) will have large earnings because of the weakened USD and thus must be a magnet for [compulsory] investments from overseas. [The meter just broke.] Things are therefore not as clear as they once were - "Skim milk masquerades as cream". To try and sum this up, a policy of lowering interest rates by the US Federal Reserve would be accompanied by a barrage of financial nonsense extolling the virtues of investing in the "new US economy" facade. The dollar would sink for many years ... not crash overnight, if we are lucky. This is what Treasury Secretary Henry Paulson wants right now, a lower USD especially against the Yen and Chinese Renmimbi/Yuan. The Treasury will claim it does not want a Stock Market Crash right now as that would stop the flow of funds to NY. The truth is, that either way, Stock Market Crash or no, the US economy will collapse without an more than impossible expansion of the current intelligence agency and military enforced global investment program. Whether they stage another hard 9/11 Crash, or a 'soft' quarterly-earnings-report crash -- America's economic future AFTER this September 2007 will require an equally impossible increase in the global security state control of Eastern Europe, China, Asia, Latin America, Africa and the Middle East. The slaves would have to become MORE poor and numerous, and their countrysides MORE productive and liquid. The thought would never be entertained, as China is now the world's greatest economic power, and is committed to leveling the world economy, which means collapsing the US Mega-Bubble. Even if China WISHED to continue to work for pennies, it too is a physical impossibility -- with a majority of their work population now being prisoners and homeless migrants, and with 95 percent of the world's ecological/bio-resource base wiped out. The forests and rainforests, rivers and wetlands, oceans and life, no longer EXIST to be plundered. And China, like the rest of the world, can no longer accept any predation from Europe and the US ... THEIR populations are now at the point of revolt too ... with no more room left to maneuver. No more food to eat, no more air to breath. No more love to share ... ... see also the dialogs at: http://www.ojaipost.com/2007/09/the_last_zuchini.shtml http://www.ojaipost.com/2007/09/no_flights_available_to_new_yo.shtml .. . 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