Thursday, July 17, 2008

Economic Meltdown

Well, the economic future of the United States is looking dire. This week's bailout proposals of Fannie Mae and Freddie Mac and the failure of IndyMac Bank have shown the perils of fiat money and central banking. Since the days of Alexander Hamilton, the wealthy have wanted a central bamk in the US. In 1836 Andrew Jackson destroyed the second Bank of the United States. From then until 1913 the United States had no central bank.It is also no coincidence that this period was a period of unsurapassed economic growth. Unfortunately the US never learned it's lesson. Now we are reaping the harvest from the evils of central banking, easy credit, and inflation and deflation.

Folks, we are headed for some very rough and ominious times. I believe we will see a depression that will dwarf the Great Depression of the 1930's. As the banks meltdown, so will the rest of the US economy. It will have a domino effect that will wipe out the savings and money of the middle class. Already the Federal Deposit Insurance Corporation (FDIC) is asking for permission to change it's rules and pay bank customers only 10 cents on the dollar or 10% of the money they have in the bank under 100,000. Currently, the FDIC is required to pay up 100,000 per account. Now they are asking to basically eviscerate the life saving of millions of depositors.

This is pure fraud and we have only seen the beginning of it. Experts are predicting $200.00 oil by this time next year, and the possibility of a depression in the coming future. The economic house of cards that the US economy is built on is starting to collapse. When it fully collapses and hits rock bottom, the US will be thrown into a world of chaos and political darkness. I have no doubt that martial law, and the virtual, if not actual, abolition of many of our constitutional liberties. The Fourth and Fifth Amendments are already under attack daily. The new FISA wiretapping law, rendition, and the push for war in the Middle East are just a few examples.

Americans need to wake up. If they do not the liberties Americans hold dear will be gone! Protect yourself and prepare for the worst.

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