It is getting easier and easier to see how a world-wide financial collapse will come about. It has to happen - we know from the book of Revelation (specifically chapter 6) that early in the Tribulation period one will have to work an entire day just for a meal. It will happen and if you read the financial news, you can easily see how the world's financial system is on the brink of collapse. The U.S. is but one part of this, but a very important part:
On Sept. 15, Canadian billionaire Ned Goodman spoke at the Cambridge House regarding the U.S. dollar, and the state of the Western economies. In his nearly eight minute speech, the 75 year old CEO of Dundee Capital Markets and Chancellor of Brock University painted a picture of the upcoming change in reserve currency control by the U.S., and how the dollar will soon be replaced as nations around the world rush to get rid of their currency reserves.
The death of the dollar, and its removal as the world's reserve currency, is no longer a conspiracy, or dreamed outcome by most of the financial world, and instead is an expected reality for the near future. When that day comes is a guess most analysts cannot predict, but in light of how Russia and other nations rejected the U.S. in their desire to chastise Syria last week, the fear of dollar hegemony no longer carries any real weight to it. And like the Suez Canal event in the 1950's, which saw the end of Britain as a global superpower, so too may the events of Syria spell the end of America's domination over the global economy.
The Federal Reserve has decided against reducing its stimulus for the U.S. economy, saying it will continue to buy $85 billion a month in bonds because it thinks the economy still needs the support.
The Fed said in a statement Wednesday that it held off on tapering because it wants to see more conclusive evidence that the recovery will be sustained.
Stocks spiked after the Fed released the statement at the end of its two-day policy meeting.
Next year’s economic growth will be a barely healthy 3 percent, the Fed predicts.
But the Fed’s policymakers expect the unemployment rate to fall to 7.1 percent to 7.3 percent by the end of 2013, slightly below its June forecast of 7.2 percent to 7.3 percent. It predicts that unemployment will fall as low as 6.4 percent next year, down from 6.5 percent in its June forecast.
The unemployment rate is now 7.3 percent.
What bald faced lies… Unemployment is closer to 25% if you factor in those that have dropped out and part time employees. People are losing everything and starving behind closed doors. There are no bread lines because of the massive food stamp rolls – more people are on food stamps than the population of the east coast of the United States. Bread and circuses indeed – while poverty and hopelessness spreads its tentacles across the plains, the Obamas have thrown more than 50 star-studded parties. It’s nice to be king…
Wall Street is living a fantasy that will crash for good sooner or later. The elite will steal every dime they can, grasp every toehold of power, drink down every glass of bubbly while rearranging the deck chairs on the US Titanic. As they lock middle America below decks, they will drive the ship right into WW III and then take the life boats themselves. Until we sink to the inevitable bottom, the pumping will go on and on and on.
The Federal Reserve's shocking decision not to taper, despite broad expectations for a $10-20 billion reduction of its monthly asset purchases, has reignited talk of a global currency war.
Risk-on currencies like the Australian dollar, the euro and the British poundsoared in response, while the greenback dropped across the board. Now some analysts say the Fed's decision could prompt other central banks to devalue their currencies in an attempt to retain a competitive edge.
"We are on the verge [of a currency war]... especially if the Fed does not taper in October or December..." said Boris Schlossberg, MD of BK Asset Management.
Speculation over the onset of a global currency war first came to a head at the start of the year when dramatic falls in the Japanese yenprompted widespread criticism from other world economies, amid concerns the yen's weakness would put Japan's exporters at an unfair advantage. However, the rhetoric abated after Japan was given the go-ahead to pursue its radical policies at a G20 meeting in April.
In discussions with former KGB and GRU officers you will run across two apparently contradictory statements. Sometimes you will hear them say that the former USSR is still run by Communists, suggesting that the rulers there believe in Communism. On the other hand, they will tell you to forget about the Communist label; that the rulers of the USSR never really believed in Communist ideology, which was a deception used to manipulate large numbers of unintelligent people.
Former KGB Lt. Col. Victor Kalashnikov recently wrote several paragraphs on this subject, and it is worth presenting. Kalashnikov’s key point is that Communism is strategy, not ideology. Useful idiots believe in Communist dogma, while Communist strategists do not. Here is what Kalashnikov had to say on the subject:
Ideology as such has not ever been the real driving force guiding Russia’s rulers, from the Bolsheviks until the present. Ideological explanations are irrelevant. Consider the deeds of the Bolsheviks rather than the explanations or justifications given by them. Don’t forget that criminals may be very eloquent and even well educated, and are capable of offering convincing-sounding rhetoric. The real problem is located elsewhere. A lot of people, those ‘useful’ ones, will take that rhetoric … seriously, giving it attention and respect, and even protection. Yet if we rely on ‘Occam’s razor,’ we may remove the superficial misunderstandings caused by taking rhetoric seriously.
The Bolsheviks were basically nothing but professional gangsters and terrorists, killers and robbers, and that is unquestionably more relevant than all the ideological explanations provided by them. They were part of a broader terrorist spectrum which spread across Russia since the late 19th century and grabbed power and national wealth UNDER COVER of Marxist and Leftist-sounding slogans. They did so to mislead the Russians themselves and the foreign public – the latter often longing for ‘real’ socialism or communism.The slogans of the gangsters have varied substantially over time, according to the changing needs up until our day. Compare the types of Marxism preached and practiced under various general secretaries, even during different parts of their respective tenures. Marxism-Leninism was used in the USSR rather as a DECEPTION TOOL; whereas, in reality, the regime was a gangster-run state with all the unmistakable features of organized criminal activity.
It is beyond doubt, of course, that the Cold War did not end in 1991. Inside the former Soviet Union we can discern criminal totalitarian structures at work behind the scenes. These structures appear to control the large Russian corporations, media and, at minimum, maintain a veto power over government agencies in former Warsaw Pact countries and former Soviet republics. If these structures are not Communist in a strict sense, they are Communist in the sense that their actual ideology is anti-Americanism (as stated by Kalashnikov).
In terms of global strategy, these structures aim at the elimination of American power. Furthermore, these structures no longer require Marxist-Leninist ideology to function (though they do require anti-Americanism). At the same time they successfully make use of those Marxist true-believers in the West who still dream of socialist revolution.
When a Communist revolution succeeds, the regime organizes everything around the concept of maximizing strategic power. Society itself is transformed into a tool of strategy. The true-believer always finds that the final end is not Communist revolution but strategic dominance to the point of universal tyranny. This produces the actual phenomenon of so-called “Communist states.” And this is, in fact, what Communism actually signifies in practice.
With all eyes focused on Syria, and reasonably so, the peace that has held in Asia for the past three decades continues to slowly slip away. And while recent developments in the South China Sea, in particular, may seem like par for the course, they point to a less stable future.
China-Philippines relations are in apparent free fall. In late August, Beijing requested that Philippine president Benigno Aquino cancel an upcoming trip to China. Earlier this month, the Philippines’ defense ministry provided evidence that China is preparing to build a structure on the disputed Scarborough Shoal. If the accusation is true, it will mark a gross violation of the (nonbinding) 2002 Declaration on the Conduct of Parties in the South China Sea. Manila subsequently recalled its ambassador for consultations.
And China isn’t the only country building on disputed territory in the South China Sea. Taipei, which has likewise seen a downturn in relations with Manila this year, has announced plans to construct a new wharf on Taiping Island, the largest of the disputed Spratlys, which Taiwan has long occupied. The new dock will accommodate large supply ships and naval frigates. These investments in infrastructure, which will include upgrades to an airstrip on the island, will enhance Taiwan’s ability to defend Taiping as well as to more effectively project power into the South China Sea.