No longer deniable

**Prince** · 07-26-2011, 11:24 AM

No longer deniable: Under runaway debt burden, America's currency is headed for total collapse
by Mike Adams, the Health Ranger

(NaturalNews) Treasury Secretary Tim Geithner recently told FOX News, "We write 80 million checks a month. There are millions and millions of Americans that depend on those checks coming on time."

That quote, all by itself, tells you just about everything you need to know about what America has become and why it's now headed for certain economic collapse. In a nation that once began with the idea that government should stay out of the way and leave people alone to create their own abundance through hard work and private savings, we now have horrifyingly transformed into a nation of 80 million dependants who need their government checks each month just to survive.

And why does the government "owe" all these people their benefits such as social security? Because the U.S. government confiscated that money from the people by skimming it off their paychecks, year after year, and then promising all the workers they would eventually get that money back.

That was all a Big Government lie, of course. Social Security was the greatest financial con ever perpetrated on the American people. It's really just Big Government saying, "We'll force you to give us your money, and then we'll spend it all, and we'll somehow promise to pay you back someday." Except that for tens of millions of Americans who have paid into social security like me, we are unlikely to ever see a dime of that money because the government is going to financially implode well before we ever reach the benefits age.

The financial blowout of the world's greatest debtor nation

You see, even while the government was promising it would pay back all the money it stole from workers, it was simultaneously conspiring with the Federal Reserve to devalue the dollar and thereby erode the actual purchasing power of the "benefit checks" people receive. Since the Federal Reserve took control of the U.S. money supply in 1913, the U.S. dollar has lost 97% of its value, didn't you know? And the remaining three percent is about to vanish in one final grand blowout of the world's greatest debtor nation known as the United States of America.

A recent review of the actions of the Federal Reserve, for example, reveal that this rogue organization created $16 trillion in new money and then handed it out to banks around the world. Here's just a partial list of the top recipients of all this new money:

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)

Are you getting the picture here? The Federal Reserve is DEVALUING the dollars you hold (and earn) by creating NEW money (by the trillions) and handing it out to the world's richest banksters! (Did you notice they never create money and hand it to YOU? It only goes to the wealthy elite...)

This action is directly causing the price inflation you see right now on all the products and services you buy every day. Have you noticed how much food prices have increased lately? It's also car prices, home rental rates, construction materials and hourly service fees. So by pumping new money into the hands of rich banksters, the Fed is effectively stealing purchasing power from YOU and everybody else holding U.S. dollars or U.S. debt.

This is the greatest financial swindle of the century. (Most people don't realize that because they don't understand the dynamics of money creation and dilution of the global money supply. All they know is everything keeps getting more expensive and they don't know why...)

Why there will be no financial solution from Big Government

Despite what you hear in the mainstream media, there is no August 2nd solution to our nation's debt problems. As Ron Paul (Ron Paul 2012 Presidential Campaign Committee) has correctly stated, the U.S. is already in default on its debt because, through "quantitative easing" schemes, it has created tens of trillions of dollars in fake currency (fiat money) and pumped it into circulation, thereby devaluing all the U.S. debt held by other nations.

The cliche phrase, "Rearranging the deck chairs on the Titanic" has been tirelessly recycled on this very issue, so let me state in another way what Obama, Boehner and Geithner are actually doing. They aren't even rearranging the deck chairs; they're tap dancing on top of the deck chairs in a classic Vaudeville performance to try to put on a good show while the ship goes down.

Whether they come to any agreement on raising the debt ceiling is irrelevant. That the U.S. has reached the point where it has to mail out 80 million checks a month just to keep the population economically alive -- and where it now has to print a few trillion dollars every quarter just to buy its own debt -- should prove to any intelligent observer that the total financial implosion of America is inevitable. The U.S. has passed the point of no return and has devolved into a nation of government dependants who worship the entity that hands them their monthly check, even as that check is worth less and less with each passing month. (The whole ugly scene is quite pathetic, actually, that people aren't marching in the streets right now and demanding honest money!)

The buying of our own debt is in addition to the $16 trillion in new money creation I mentioned earlier. New debt spending is the reason why additional trillions being thrown at the problem, much like firefighters throwing gasoline on a burning building to try to put out the fire. (Timothy Geithner is often and correctly referred to as an "arsonist.")

Global investment banks, you see, have almost completely stopped buying U.S. debt. So the U.S. has been forced to buy its own debt, using debt money. This is the national equivalent of paying off your credit card by taking out a high-interest cash advance from that same credit card. What Obama and Boehner are arguing about is whether we should keep borrowing money in order to spend it, not whether we should end the whole insane practice and get out of debt in the first place.

Let's all smoke our way out of a crack addiction

Insanely, Obama and many members of Congress (mostly on the Democratic side, but also a few Republicans) have come to the conclusion that the only way to solve our debt problems is to spend more debt money. This is like a bunch of crack-heads getting together and deciding they're going to smoke their way out of their crack addiction. Doesn't 80 million checks a month already tell you that government is far too big in America today? How on Earth could a bigger government spending even more debt money possibly solve this massive debt problem that Big Government caused in the first place?

Let me be blunt with all the people receiving these 80 million checks each month: You'd better get ready for those checks to stop, folks! I hope you're shoring up your savings, buying gold and silver, and stocking up on preparedness supplies. Because the day is coming when the U.S. government either cannot print these 80 million checks or, even worse, they still mail out the checks but the dollars themselves are virtually worthless. "Look, grandma, you got your social security check! What do you want to spend it on this time; a loaf of bread, or a cup of coffee?"

The goal of the Federal Reserve has always been to loot the U.S. economy and steal our wealth

We are witnessing, in accelerated time, the total financial implosion of an empire. We're watching it burn right before our very eyes, and it was all set in motion in 1913 with the creation of the Federal Reserve, of course.

The goal of money creation has always been to loot the economy and transfer wealth from the hands of the workers to the pockets of the rich bankers. For nearly ninety years, this was all done quietly and gradually, but today it's being done aggressively and right out in the open. $16 trillion has just been stolen from the American people (and U.S. debt holders), and trillions more are on the way. QE3 will be followed by QE4, then QE5 and QE6, each adding trillions more to an accelerated financial implosion that will leave the U.S. dollars virtually worthless.

This day is coming. We've been warning about it here on NaturalNews since at least 2008, when I held a phone seminar and warned people to buy gold and silver. (At that time, gold was in the $600 range. Today it's $1,600...) Actually, I'm on the record warning people about the dot-com bubble before it popped, and about the housing bubble before it popped, too. Now I'm warning about the coming collapse of the dollar, which now even mainstream people are beginning to see as a possibility. Even Obama himself said we need to increase the debt ceiling to avoid what he called, "Financial Armageddon."

Now, more than ever, we all need to get prepared for what's undeniably headed our way. I hope you're all taking this seriously. When the dollar implodes in value (or is abandoned by the world), how will YOU buy stuff? What will your government check be worth then?

Your own government, you see, is stealing from you -- and it's totally getting away with is because the American people have become so pathetically enslaved by the system that they don't even realize the system is working against them.

**myCATpowerlifts** · 07-26-2011, 12:22 PM

Great fucking article prince. I'm going to print this out and hand it out to people.

**Chubby** · 07-26-2011, 01:34 PM

I feel so hopeless.

**Curt James** · 07-26-2011, 01:58 PM

Originally Posted by Prince

Let's all smoke our way out of a crack addiction

Ouch.

Interesting article. Definitely doesn't offer a bright outlook.

**Gentleman** · 07-26-2011, 02:03 PM

Another post deletion by Curt. I can't reach 700 if you keep that up.

Now like I said, I will continue to live my good life as I always do.

**minimal** · 07-26-2011, 02:22 PM

we dun goofed

**LAM** · 07-26-2011, 03:43 PM

like I have stated many times before the US version of "capitalism" is complete and utter bullshit....

the days of double digit inflation are heading this way...how many people are going to be able to stay afloat then?

qualitative easing (QE) is the systematic devaluing of the dollar to reduce US debts, it's how the US "defaults" on it's obligations vs just not paying.

that median household income of $48k combined is going to be worth about $15-10K a year soon...good thing their are no more unions to help people fight for higher wages.

lol at the supply-side believers, they should have paid attention more in math class..

**Dale Mabry** · 07-26-2011, 04:47 PM

If the government got out of the way right now the nation would implode. The wealth is distributed too much at the top. People at the top save their money, this does not help the economy in any way. The people in the middle and the bottom, the ones who consume the most goods, don't have enough money to buy shit. I've said it a million times, how many Ipods is 1% of the population going to buy? They have all of the money, and only need a finite amount of shit, they sock the rest away in to the bank. This decreases the need for goods and services, you don't need 99 people to serve 1, so unemployment rises until the wealth is distributed all of the way to the top. If the middle class were to smarten up and start saving more money our economy would collapse, the tax base would be nonexistent, and we wouldn't even be able to afford the military because it would take money out of the hands of the job creators.

Here are 2 predictions:

Taxes will go up

The government will have to step in with another stimulus.

I am guaranteeing both of these to happen in the next 2 years. The only reason I won't guarantee it for next year is I'm not sure they will take it up in an election year.

**Zaphod** · 07-26-2011, 06:42 PM

And that stimulus still won't go to the people. It will go to corporations who will just sit on it like each and every time before. It's just free money to them.

**GearsMcGilf** · 07-26-2011, 08:16 PM

Originally Posted by LAM

like I have stated many times before the US version of "capitalism" is complete and utter bullshit....

the days of double digit inflation are heading this way...how many people are going to be able to stay afloat then?

qualitative easing (QE) is the systematic devaluing of the dollar to reduce US debts, it's how the US "defaults" on it's obligations vs just not paying.

that median household income of $48k combined is going to be worth about $15-10K a year soon...good thing their are no more unions to help people fight for higher wages.

lol at the supply-side believers, they should have paid attention more in math class..

I agree with 99% of this. But, do you think the answer is a more socialistic system? Look at EU countries. They've never practiced supply-side, but they're circling the bottom of the crapper even faster than us.

I'm starting to think the Canadian system, perhaps with the exception of their healthcare system, makes a lot more sense. They cleaned up their fiscal house years ago by making sacrifices that our leaders aren't willing to make due to politics. They did raise taxes, but drastically decreased spending at the same time. Their financial services industry has a lot of common sense regulation that probably could have prevented the meltdown we've had. The highs weren't nearly as high, but the lows haven't been as low as what we're experiencing. For the most part, they're banking system is still fairly solid.

**GearsMcGilf** · 07-26-2011, 08:22 PM

Originally Posted by Dale Mabry

If the government got out of the way right now the nation would implode. The wealth is distributed too much at the top. People at the top save their money, this does not help the economy in any way. The people in the middle and the bottom, the ones who consume the most goods, don't have enough money to buy shit. I've said it a million times, how many Ipods is 1% of the population going to buy? They have all of the money, and only need a finite amount of shit, they sock the rest away in to the bank. This decreases the need for goods and services, you don't need 99 people to serve 1, so unemployment rises until the wealth is distributed all of the way to the top. If the middle class were to smarten up and start saving more money our economy would collapse, the tax base would be nonexistent, and we wouldn't even be able to afford the military because it would take money out of the hands of the job creators.

Here are 2 predictions:

Taxes will go up

The government will have to step in with another stimulus.

I am guaranteeing both of these to happen in the next 2 years. The only reason I won't guarantee it for next year is I'm not sure they will take it up in an election year.

IDK about that. Most of the wealthy people I've known spend like drunken sailors. They just have a zillion ways to get out of paying taxes, unlike those of us who have to report our income on a w-2. They may sock some away, and I can't blame them, but they tend to be fairly pretentious and want everyone to see what they have. I believe that if the loopholes could be closed, the revenue increase would be far greater than simply increasing the marginal rates while allowing the loopholes to remain in place. The people who have access to the major tax shelters are the ones who wouldn't be harmed by paying their share.

**maniclion** · 07-26-2011, 09:16 PM

How many of those 80 million checks are for pensions? You know for people who worked hard and earned it????Especially military retirees who did their 20+, maybe were injured in that time. Social Security? Medicare, gov employees, contracts, active duty, food suppliers for the military, etc...

**LAM** · 07-26-2011, 09:23 PM

Originally Posted by GearsMcGilf

I agree with 99% of this. But, do you think the answer is a more socialistic system? Look at EU countries. They've never practiced supply-side, but they're circling the bottom of the crapper even faster than us.

I'm starting to think the Canadian system, perhaps with the exception of their healthcare system, makes a lot more sense. They cleaned up their fiscal house years ago by making sacrifices that our leaders aren't willing to make due to politics. They did raise taxes, but drastically decreased spending at the same time. Their financial services industry has a lot of common sense regulation that probably could have prevented the meltdown we've had. The highs weren't nearly as high, but the lows haven't been as low as what we're experiencing. For the most part, they're banking system is still fairly solid.

they are definitely more forward thinking than the US and it's focus on short-term economic success for the few. instead of building a healthy long lasting economy the US built one around the financial system and exploiting the USD and now that's going to cost us big-time.

the current economy is pretty much all the evidence needed to show that the low wage neo-liberal economic model does not work well at all. with high inflation on the horizon I don't see how state governments will ever recover.

and the people that created this mess what sacrifices are they having to make? zero.....

**Big Smoothy** · 07-26-2011, 10:23 PM

Prince, this is one of the most 'to the point' articles I've read.

Good find.

Yeah, the news is bad, but as many Americans need to be aware of this as possible.

**Dale Mabry** · 07-27-2011, 03:36 AM

Originally Posted by GearsMcGilf

IDK about that. Most of the wealthy people I've known spend like drunken sailors. They just have a zillion ways to get out of paying taxes, unlike those of us who have to report our income on a w-2. They may sock some away, and I can't blame them, but they tend to be fairly pretentious and want everyone to see what they have. I believe that if the loopholes could be closed, the revenue increase would be far greater than simply increasing the marginal rates while allowing the loopholes to remain in place. The people who have access to the major tax shelters are the ones who wouldn't be harmed by paying their share.

I would agree with this, but how many boats, Bentleys, and houses can people buy?

**ROID** · 07-27-2011, 04:51 AM

I predict that everything will be just fine.

**Prince** · 07-27-2011, 10:22 AM

Originally Posted by ROID

I predict that everything will be just fine.

that is what the government wants us to believe.

**ROID** · 07-27-2011, 10:25 AM

Originally Posted by Prince

that is what the government wants us to believe.

Nothing we can do about it. Not even worth worrying about anymore.

I will always have money in my pockets and live a life I'm comfortable with.

**minimal** · 07-27-2011, 10:27 AM

Originally Posted by ROID

I predict that everything will be just fine.

I think so. Everything goes in cycle, we go up and down including the economy. Just enjoy the ride.

**GearsMcGilf** · 07-27-2011, 10:27 AM

I predict that all hell's gonna break loose at some point over the next two years. We're getting ready to implode whilst our dear leaders are acting like children in a sandbox. There will be an agreement to raise the debt ceiling, but it'll just be a bandaid. We're still gonna get downgraded, interest rates are gonna skyrocket, the Fed will continue printing $ out of thin air, resulting in double digit inflation, and unemployment will grow from the current 18-20% to higher than it was during the great depression. I'm glad to be gtfo of here next week.

**Gissurjon** · 07-27-2011, 01:01 PM

So when are we gonna stop this Democrat vs.Republican bs and realize that both parties work for the same boss and goals.

**HialeahChico305** · 07-27-2011, 01:32 PM

Originally Posted by ROID

Nothing we can do about it. Not even worth worrying about anymore.

I will always have money in my pockets and live a life I'm comfortable with.

This is the problem, most Americans think this way. its all about comfort, its uncomfortable to see things are getting worse as years go by.

**SloppyJ** · 07-27-2011, 02:04 PM

Im gonna buy a shit ton of ammo and gold.

**Prince** · 07-27-2011, 02:42 PM

Originally Posted by ROID

Nothing we can do about it. Not even worth worrying about anymore.

I will always have money in my pockets and live a life I'm comfortable with.

I am seriously considering buying about $50k in gold.

**Ichigo** · 07-27-2011, 03:02 PM

Wow im fucked!! Im on disability...

**maniclion** · 07-27-2011, 03:29 PM

I got a herd of dogs, solar electric power, solar water heating, a small rain catchment tank, land for a garden....just need to build a small tuna farm and buy some chickens and I'll be self sustaining for the Depression.....

**SilentBob187** · 07-27-2011, 06:55 PM

I don't think the article highlighted this enough:

$16 Trillion

When sh*t goes down, it is going to be ugly, violent, and most likely irreparable.

Invest in gold, silver, bullets, firearms, canned goods, water, manual transportation (bicycle)

Fed

The Fed Audit - Newsroom: U.S. Senator Bernie Sanders (Vermont)

**LAM** · 07-27-2011, 07:22 PM

Originally Posted by SilentBob187

I don't think the article highlighted this enough:

$16 Trillion

When sh*t goes down, it is going to be ugly, violent, and most likely irreparable.

Invest in gold, silver, bullets, firearms, canned goods, water, manual transportation (bicycle)

Fed

The Fed Audit - Newsroom: U.S. Senator Bernie Sanders (Vermont)

other countries have total deficits higher than 100% of GDP, not that this is a good thing but there are others in worst shape than the US. the FRB is just going to inflate the hell out of the dollar to reduce it's debts. China and OPEC are the largest holders of T-Notes right now so they have the most to lose when/if the USD tanks.

the OECD wanted members to raise interest rates but with the combination of high unemployment now and in the future combined with stagnant wages for many, that is simply not an option.

**GearsMcGilf** · 07-27-2011, 07:34 PM

Originally Posted by maniclion

I got a herd of dogs, solar electric power, solar water heating, a small rain catchment tank, land for a garden....just need to build a small tuna farm and buy some chickens and I'll be self sustaining for the Depression.....

Yes, if I were staying, I'd buy a few pitbulls, start a garden, buy 2 years worth of canned goods and dried food, some AKs, maybe dig an underground bunker for when the next WW starts. But, I think if you do all that you also have to grow a long beard and join the Aryan Nation.

**SilentBob187** · 07-27-2011, 07:51 PM

Originally Posted by LAM

other countries have total deficits higher than 100% of GDP, not that this is a good thing but there are others in worst shape than the US. the FRB is just going to inflate the hell out of the dollar to reduce it's debts. China and OPEC are the largest holders of T-Notes right now so they have the most to lose when/if the USD tanks.

the OECD wanted members to raise interest rates but with the combination of high unemployment now and in the future combined with stagnant wages for many, that is simply not an option.

Well that doesn't make things sound any better...

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