Indy Mac, WaMu, Wachovia — bank failures are on the rise. The credit and liquidity of the U.S. economy is bone dry. The $700 billion bailout plan was defeated by House of Representatives on Monday.
I don’t know about you, but I’m starting to believe the end of the world is nearing. Oh my! History is frighteningly repeating himself while many media outlets are focused on pig lipstick and hoping to hear Gov. Palin mispronounce Mahmoud Ahmadinejad (LOL).
Seriously, in the late 1920s and 1930s bank failures were a common occurrence as desperate bankers called in loans which the borrowers did not have time or money to repay. The Great Depression was caused, as many economists agree, by debt. After the panic of 1929, and during the first 10 months of 1930, 744 U.S. banks failed. (Over 9,000 banks failed during the 1930s). Sound familiar? Today, banks are dying in a way we could not have imagined. More than ever, let us all be wise on the status of our current personal cash flow.
What is so intriguing is the root cause of what’s happening today. The Federal Reserve Bank System, a private corporation that produces currency for the entire nation, is why we are in this potential Depression. The Federal Reserve Bank System controls interest rates and the money supply (inflation). They regulate the value of currency. They loan the government money with interest. It is theorized that your taxes pay back this interest and not necessarily socialized programs. Every dollar loaned has immediate debt; therefore, debt becomes inevitable. To pay the debt, new money has to be created. It’s an ongoing cycle of debt. All of this is deeper than the subprime mortgage crisis. All of this is crashing in front of our eyes.
According to some and in basic terms, your money (dollar currency) may soon be replaced by the amero. Besides the Lou Dobbs show, you may not hear too much about the amero and the North American Currency Union. The North American Currency Union is a theorized economic and monetary union of the three principal countries of North America: Canada, the U.S. and Mexico. The union would insist all three countries giving up their current currency units (Canadian dollar, U.S. dollar, and Mexican pesos) and adopting a new one. The unnoticed, unregulated agreement was sign by Pres. George W. Bush without congressional approval. Conspiracy theorists contend that the governments of the United States, Canada, and Mexico are already taking steps to implement such a currency.
All of this stems from how the Federal Reserve Bank System was founded (at a time when banks were being closed). There is a documentary outlining the creation of the Federal Reserve Bank that you must watch to get a feel for what is REALLY going on. One world-one economy. This Michael Moore-esque film is mind blowing as it touches on the U.S. banking system, wars, Prescott Bush, 9/11/01, the New World Order and how they all may relate.
This isn’t Cracker Barrel going out of business y’all. This is serious. Things are happening just too fast.
What are your thoughts on the documentary?
How does this affect your current view of the U.S. Federal Government and our economic woes?
I’ve been very thirsty for news and information (and commentary for that matter) that coincides with my thoughts, issues, and beliefs. We all like to be around those that support our views and convictions.
