WHAT ABOUT THE NATIONAL DEBT, BANKING AND THE MONEY SUPPLY ...
Tuesday, August 02, 2011
by Mike Adams, the Health Ranger
Editor of NaturalNews.com
“It's not just that most people don't understand banking and finance; it's that even members of Congress have no idea how all this works. With few exceptions (like Ron Paul), they're just clueless!”
Seven disturbing facts about money that are almost never acknowledge in the old media.
Fact #1 - There is no FDIC insurance fund.
There is no actual money in the fund. The FDIC insurance money has already been looted by the U.S. Treasury which has simply replaced the money with a bunch of IOUs.
When the U.S. government goes into default, and it will sooner or later, so will the FDIC! And that means all your bank funds have zero insurance.
Fact #2 - There are no social security funds, either.
In reality, there is no money in the social security trust fund because it too has all been looted by the U.S. Treasury and spent. In truth, social security is already broke.
Fact #3 - The U.S. Treasury is stealing money from you every day, even if you pay no taxes!
The U.S. Treasury is stealing money from you every single day by the simple fact that they keep creating new money and handing it out to wealthy banksters. Well, technically this is being done by the Federal Reserve, which isn't even part of the federal government. But it's all done in cahoots with the Treasury, which is eroding the value of your money through these money creation and distribution actions.
The truth is that your money is worth less! That's how the Treasury and the Federal Reserve steal from you without even breaking into your home.
As history has clearly shown, every nation that goes down the path of printing more currency to pay its bills eventually ends up in a runaway hyperinflation scenario followed by economic collapse. The USA will be no different.
Fact #4 - The "balanced solution" isn't balanced.
When you're spending more money than you're earning, that's not financial balance. When the White House says "balanced" what it really means is "compromised" -- as in, half way between the Republican position (spend us into purgatory) and the Democratic position (spend us into oblivion). Neither party has any real solution to the cancerous growth of Big Government. That's because they are creatures of Big Government!
Politicians can no more solve the problems of Big Government than arsonists can solve the problem of office fires. Because they are, themselves, creatures of runaway debt spending (how else do you get elected these days?), they simply do not possess the cognitive framework from which real financial solutions must stem.
Fact #5 - The government is going to steal everything from you before it collapses
Oh my, this is a tough one for people to get their heads around... especially those who naively trust governments to act in the interests of the People. The simple truth is, the government is going to STEAL almost everything you own as it heads toward a total financial implosion. This will include:
The government theft of private retirement accounts. The feds will claim they're taking them over "for your protection."
The government theft of precious metals. Watch for a national emergency to be declared, followed by government confiscation of gold and silver. The feds will take your gold and hand your paper money in exchange. The paper money, of course, will be all but worthless shortly thereafter.
Government takeover of your bank accounts. As banks begin to fail in the big collapse, the government will step in and take ownership of the failed institutions, just as it did with Fannie Mae and Freddie Mac (which used to be publicly-owned companies but are now largely just government finance operations). This will put your bank accounts under the direct control of the White House, which can use executive orders to do things like banning all wire transfers out of the country or limiting daily withdrawals and transfers. Sure, you'll still "own" your money in the bank, you just won't be able to freely access it!
Fact #6 - Most people have no idea about fractional reserve banking, derivatives, the money supply or the Federal Reserve
It's not just that most people don't understand banking and finance; it's that even members of Congress have no idea how all this works. With few exceptions (like Ron Paul), they're just clueless!
Get this: Even most bankers don't even know how fractional reserve banking really works. They don't understand derivatives, either, which is why they screwed them up so badly in the housing boom that crashed in 2007. And because bankers, investors and bureaucrats have no idea how it all works, they unwittingly turn it all into a runaway catastrophe.
Allowing ignorant adults to play with debt and derivatives is like letting infants play with nuclear weapons. It can only lead to something messy.
Fact #7 - Most people are betting their lives on the dollar
People buy insurance for their cars, their homes and even their health. But when it comes to money, 99 out of 100 people in America are betting their entire financial existence on the U.S. dollar! They get their paychecks in dollars, their savings accounts are in dollars, and all their assets are denominated in dollars. As a result, they have no diversity to protect them against dollar devaluation.
More people are diversifying their assets and converting dollars into land, gold, silver or even storable food. People who are betting everything on the dollar because they never realized they had any other option (that's the way the government likes to keep it, of course!) need to start to prepare.
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