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Bill Still on the debt “ceiling”
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White House announces debt ceiling will be raised, bankers rejoice
In a last-minute turn of events, the US Government announced it will increase the debt “ceiling” for the 75th time since 1962.
What makes this time special is that National Debt is now equivalent to GDP (~ $13 Trillion). A 1:1 ratio may not mean anything other than being a nice even number (like on the odometer of your car) for us to come to our senses and stop this self-destructive debt money creation before it becomes hyperinflation. Problem is, hyperinflation is the only thing the bankers can do now to sustain their ponzi scheme we refer to as the dollar. Inflation has predictable results, like concentrating wealth in the banks and devaluing everyone’s investments ( ie savings and retirement). As Ron Paul says, inflation is a hidden tax which affects the poor and middle class most, in our case, paid directly to the international bankers of the Federal Reserve System. Who wants to be a millionaire?
Raising the debt ceiling this time is just one more step in a long process. They won’t default, they will just keep “printing” money until it becomes so worthless that everyone is forced to dump the dollar and adopt a new currency (Amero, SDR or what have you). By this time there will be nothing to default on, and holders of dollar debt will have been robbed blind. This is a manufactured Problem-Reaction-Solution dialectical mind trick marching us toward a world financial system and a perpetual state of financial depression; under a world government of, by, and for the banks.
The sane course of action would be to stop the imperial wars and nationalize the Fed immediately, but corporate interests control our government and the cancer is everywhere.
See you in the forced labor camp.
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Banned commercial about debt
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Reinstate Glass-Steagall now
This is one of the key steps toward fixing our fraudulent banking system. Since the 1930s, Glass-Steagall protected our savings and retirement accounts from being invested in speculative high-risk markets like sub-prime mortgages and derivatives. When the Clinton Administration and the banker lobbyists got rid of it in the ’90s, that opened the gates of hell and now the fraudsters are multiplying their wealth out of control thru fractional lending and bailouts.
This is an exciting opportunity for us to take back some control over our economy. Please support this bill any way you can.
Current List of Congressional Signers to HR1489 from LaRouche PAC
May 16, 2011 • 12:46 PM**June 2nd Update: Two more senior members of the U.S. House, one a Republican and the other a Democrat signed on as cosponsors to reinstitute Glass-Steagall. Their addition brings the total to 13 cosponsors, plus Kaptur.
**June 2nd Update: Two more senior members of the U.S. House of Representatives, one a Republican, Rep. Roscoe Bartlett (R-MD), and the other a Democrat, Rep. Danny Davis (D-IL), on May 31 signed on as cosponsors to Rep. Marcy Kaptur’s bill to reinstitute Glass-Steagall, H.R. 1489. Their addition brings the total to 13 cosponsors, plus Kaptur. A current list of all the co-sponsors is immediately below:
Current Co-Sponsors:
- Rep Slaughter, Louise McIntosh (D-NY)
- Rep Towns, Edolphus (D-NY)
- Jim McDermott (D-WASH)
- Lynn Woolsey (D-CALIF)
- Reps. James Moran (D-VA)
- John Conyers (D-MICH)
- Jesse Jackson Jr. (D-ILL)
- Walter Jones (R-NC)
- (init.) Marcy Kaptur (D – Ohio)
- Maxine Waters (D-CA)
- Marcia Fudge (D-OH)
- Kurt Schrader (D-OR)
- Roscoe Bartlett (R-MD)
- Danny Davis (D-IL)
Institutional Support:
- January 2011 — The Louisiana State Board of the National Association of Realtors passed a resolution calling for the reinstatement of Glass-Steagall, and demanding that the National Association of Realtors do the same.
- March 2011 — The National Farmers Union, at its March 13-15 National Convention in San Antonio, reaffirmed its spring 2010 call for the immediate reinstatement of Glass-Steagall.
- May 2011 — The International Association of Machinists, one of the largest unions in America, put the reinstatement of Glass-Steagall, specifically H.R. 1489, as a priority for their legislative agenda.
- May 9, 2011 — The Columbia Pacific Building Trades Council unanimously endorsed LPAC’s resolution for Glass-Steagall.
- May 11, 2011 — The Northwest Oregon Labor Council unanimously endorsed LPAC’s resolution for Glass-Steagall.
- May 12, 2011 — The Democratic Party of Multnomah County, Oregon–the country in which the state’s largest city, Portland, is located–passed a resolution calling for the immediate reinstatement of Glass-Steagall.
Legislative Support:
- June 2010: The Borough Council of Lansford, Pa. and the Council of Morgan Township both passed resolutions demanding their Congressmen re-enact Glass-Steagall.
- September 2010: The Port Jervis, New York City Council passed LPAC’s resolution for Glass-Steagall.
- Fall 2010: Mansfield Township, New Jersey passed LPAC’s resolution for Glass-Steagall.
- May 24, 2011: The city council of Irvington, NJ passed a Glass-Steagall resolution.
Resolutions Introduced:
- February 11, 2011 — Kentucky State Senator Perry Clark (D) introduced a resolution calling on Congress to immediate reinstate Glass-Steagall.
- March 17, 2011 — Missouri State Rep. Bert Atkins (D-St. Louis County) introduced HCR 49, a concurrent resolution calling for Congress to reinstate Glass-Steagall.
- March 24, 2011 — Alabama Rep. Tom Jackson (D) introduced H.R. 190, a resolution urging Congress to reinstate Glass-Steagall.
Editorial Support:
- The Fairbanks, Alaska Daily News Miner, in June 2010.
- The Bangor, Maine Bangor Daily News in June 2010.
- The Pittsburgh Tribune-Review, the flagship paper of Richard Mellon-Scaife, on November 22, 2010.
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The American Dream By The Provocateur Network
Semi-NSFW (language/content)
But the Fed is Not Safe For Life.
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Anonymous demands Bernanke’s resignation
Anonymous announces Operation Empire State Rebellion (#OpESR)
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Debit cards: $50 spending limit coming?
(CNNMoney) — Declined! Your debit card may soon be denied for purchases greater than $100 — or even as little as $50.
JPMorgan Chase, one of the nation’s largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal.
Why? Because the bankers are here to enslave us, an this is a great way for them to to extract more fees.
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TSHTF:2014
I’m going out on a limb and making a financial projection. Sometime in 2014, if this trend continues, an ounce of gold will cost infinity US Dollars. Obviously this inflationary debt-money creation is not sustainable, as we know by looking at recent examples of hyperinflation like Weimar Republic, Argentina, and Zimbabwe. If people wake up to the scam, there could be a break point prior to 2014, a rush on metals, bank runs, and an attempt by the US Government to confiscate citizens’ gold as they did in the 1930s, so this trend may not hold… but look at the curve:
This nearly perfect curve represents debt feedback in the system, in the form of existing debt requiring more and more debt-money to be created, in order to pay back interest. How can interest be paid on loans for which the principal was created out of thin air, except if new money is created elsewhere within the system?The only way to avoid total dollar collapse is for Congress to nationalize the “Federal” “Reserve” cartel which has perpetrated this ponzi scheme on the US taxpayer. We need to adopt a non-fractional, non-debt based currency, and put our dollars in valuable assets such as land, water and food production, energy independence, gold and silver, self-defense, and other real assets which will be valuable in a metal and barter system.
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