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.

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.

Virginia Legislature weighs gold and silver as currency in the event of a “major breakdown” in Fed notes

HOUSE JOINT RESOLUTION NO. 557

Offered January 12, 2011 Prefiled January 5, 2011 Establishing a joint subcommittee to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System. Report.

———- Patron– Marshall, R.G. ———- Referred to Committee on Rules ———-

WHEREAS, the Supreme Court of the United States has ruled in In re Rahrer, 140 U.S. 545, 554 (1891), that “the police power” of a State “is a power originally and always belonging to the States, not surrendered by them to the general government, nor directly restrained by the Constitution of the United States, and essentially exclusive”; and

WHEREAS, the Supreme Court of the United States has ruled in Beer Company v. Massachusetts, 97 U.S. 25, 33 (1877), that the police power of the States “extend[s] to the protection of the lives, health, and property of the[ir] citizens, and to the preservation of good order”; and

WHEREAS, the protection of the lives, health, and property of Virginia’s citizens, and the preservation of good order in the Commonwealth, depend upon the maintenance of both an adequate system of governmental finance and a sound and robust private economy; and

WHEREAS, an adequate system of governmental finance and a sound and robust private economy cannot be maintained in the absence of a sound currency; and

WHEREAS, the present monetary and banking systems of the United States, centered around the Federal Reserve System, have come under ever-increasing strain during the last several years, and will be exposed to ever-increasing and predictably debilitating strain in the years to come; and

WHEREAS, many widely recognized experts predict the inevitable destruction of the Federal Reserve System’s currency through hyperinflation in the foreseeable future; and

WHEREAS, in the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the Commonwealth is not prepared, the Commonwealth’s governmental finances and Virginia’s private economy will be thrown into chaos, with gravely detrimental effects upon the lives, health, and property of Virginia’s citizens, and with consequences fatal to the preservation of good order throughout the Commonwealth; and

WHEREAS, Virginia can avoid or at least mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System only through the timely adoption of an alternative sound currency that the Commonwealth’s government and citizens may employ without delay in the event of the destruction of the Federal Reserve System’s currency; and

WHEREAS, “legal tender” denotes a currency that must be accepted in payment of a debt denominated in United States “dollars” if the parties have not stipulated that some alternative currency is to be used as their medium of payment or are not otherwise required to use such alternative currency; and

WHEREAS, the Federal Reserve System’s currency has been designated “legal tender” under color of Title 31, United States Code, Section 5103; and

WHEREAS, under Title 12, United States Code, § 411 and Title 31, United States Code, § 5118(b) and (c), the Federal Reserve System’s currency is not redeemable in gold or silver coin or the equivalent in bullion; and

WHEREAS, that the Federal Reserve System’s currency is not redeemable in gold or silver coin or the equivalent in bullion is being identified by more and more experts as a, if not the, major reason for the ever-increasing instability of the Federal Reserve System; and

WHEREAS, all gold and silver coins of the United States are designated “legal tender” under the aegis of Title 31, United States Code, §§ 5103 and 5112(h), and must be so designated perforce of Article I, Section 8, Clause 5 and Article I, Section 10, Clause 1 of the Constitution of the United States; and

WHEREAS, pursuant to Article I, Section 10, Clause 1 of and the Tenth Amendment to the Constitution of the United States, each State must make gold and silver coin a Tender in Payment of Debts; and

WHEREAS, the Supreme Court of the United States in Lane County v. Oregon, 74 U.S. (7 Wallace) 71, 76-78 (1869), and Hagar v. Reclamation District No. 108, 111 U.S. 701, 706 (1884), has ruled that the States may adopt whatever currency they desire for the purposes of performing their sovereign governmental functions, even to the extent of adopting gold and silver coin for those purposes while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated “legal tender”; and

WHEREAS, “the police power” being the primary sovereign governmental function of every State, under Lane County and Hagar every State may adopt its own currency, consisting of gold or silver, or both, whenever necessary and proper to facilitate exercises of that power in aid of the general welfare of the State and its citizens; and

WHEREAS, under the aegis of Title 31, United States Code, § 5118(d)(2), and perforce of Article I, Section 8, Clause 5 and Article I, Section 10, Clause 1 of, and the Ninth and Tenth Amendments to, the Constitution of the United States, Americans may employ whatever currency they choose to stipulate as the medium for payment of their private debts, including gold or silver, or both, to the exclusion of a currency not redeemable in gold or silver that Congress may have designated “legal tender”; and

WHEREAS, under the aegis of Title 31, United States Code, § 5118(d)(2), and perforce of Article I, Section 8, Clause 5 and Article I, Section 10, Clause 1 of, and the Ninth and Tenth Amendments to, the Constitution of the United States, the citizens of Virginia may choose to employ as the medium for payment of their private debts whatever alternative currency, consisting of gold or silver, or both, that the Commonwealth may adopt in the exercise of “the police power”; and

WHEREAS, in light of the possible instability of the Federal Reserve System, proposals for states and their citizens to adopt an alternative currency consisting of gold or silver, or both, are receiving increasing attention throughout the United States, as evidenced by bills that have been or are being introduced in the legislatures of the States of Georgia, Indiana, Montana, New Hampshire, and South Carolina; and

WHEREAS, various systems of alternative currency employing gold or silver, or both, in the form of coin or its equivalent in bullion have already proved themselves in the free market, and could either be employed by the Commonwealth directly or be used as models for a new system created by the Commonwealth to meet Virginia’s unique needs; and

WHEREAS, the adoption of an alternative currency consisting of gold or silver, or both, would not destabilize the present monetary and banking systems, the Commonwealth’s governmental finances, or Virginia’s private economy, because it would not compel or commit the Commonwealth or her citizens to employ such alternative currency to the exclusion of the Federal Reserve System’s currency immediately, but would merely make the alternative currency available, and enable it to be used in competition with and preference to the Federal Reserve System’s currency, to the degree that the need for such use became apparent; and

WHEREAS, the United States Congress, the U.S. Department of the Treasury, and the Federal Reserve System have taken and are preparing to take no action to provide the United States with an alternative to the Federal Reserve System’s currency, in the likely event that the latter would be destroyed through hyperinflation; and

WHEREAS, because legislators in Virginia know or should know all of these facts; and because the General Assembly has the authority, the ability, and the duty to take timely action to deal with this situation without first seeking the approval of or assistance from Congress or any other state; and because the Constitution of Virginia provides, “That all power is vested in, and consequently derived from, the people, that magistrates are their trustees and servants, and at all times amenable to them”—for these reasons, the citizens of the Commonwealth will properly conclude that the members of the General Assembly will be primarily responsible if the Commonwealth is found to be without an alternative currency when the Federal Reserve System’s currency collapses in hyperinflation, or some other related economic calamity supervenes; now, therefore, be it

RESOLVED by the House of Delegates, the Senate concurring, That a joint subcommittee be appointed to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.

The joint subcommittee shall consist of eight legislative members who shall be appointed as follows: five members of the House of Delegates to be appointed by the Speaker of the House of Delegates in accordance with the principles of proportional representation contained in the Rules of the House of Delegates and three members of the Senate to be appointed by the Senate Committee on Rules. The joint subcommittee shall elect a chairman and vice-chairman from among its membership.

In conducting its study, the joint subcommittee shall call or hear from such witnesses and take such other evidence as it deems appropriate and shall consider recommendations for legislation, with respect to the need, means, and schedule for establishing such an alternative currency.

Administrative staff support shall be provided by the Office of the Clerk of the House of Delegates. Legal, research, policy analysis, and other services as requested by the joint subcommittee shall be provided by the Division of Legislative Services. Technical assistance shall be provided by the Treasurer of the Commonwealth of Virginia and the Bureau of Financial Institutions of the State Corporation Commission. All other agencies of the Commonwealth shall provide assistance to the joint subcommittee for this study, upon request.

The joint subcommittee shall be limited to six meetings for the 2011 interim, and the direct costs of this study shall not exceed $12,000 without approval as set out in this resolution. Approval for unbudgeted nonmember-related expenses shall require the written authorization of the chairman of the joint subcommittee and the respective Clerk. If a companion joint resolution of the other chamber is agreed to, written authorization of both Clerks shall be required.

No recommendation of the joint subcommittee shall be adopted if a majority of the House members or a majority of the Senate members appointed to the joint subcommittee (i) vote against the recommendation and (ii) vote for the recommendation to fail notwithstanding the majority vote of the joint subcommittee.

The joint subcommittee shall complete its meetings by November 30, 2011, and the chairman shall submit to the Division of Legislative Automated Systems an executive summary of its findings and recommendations no later than the first day of the 2012 Regular Session of the General Assembly. The executive summary shall state that the joint subcommittee intends to submit to the General Assembly and the Governor a report of its findings and recommendations for publication as a House or Senate document and shall specify the date by which the report shall be submitted. The executive summary and the report shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports, and shall be posted on the General Assembly’s website.

Implementation of this resolution is subject to subsequent approval and certification by the Joint Rules Committee. The Committee may approve or disapprove expenditures for this study, extend or delay the period for the conduct of the study, or authorize additional meetings during the 2011 interim.

Who wants to be a millionaire?

From BSC

Central banks start to abandon the U.S. dollar – From the Wallstreet Blogs, Fortune, CNN

“Just last week, America’s debt lept $166 billion in a single day. That one-day run-up is greater than the entire U.S. annual deficit in 2007. And Americans, the world’s consumers, continue much of the behavior that helped the U.S savings rate drop so low.

The dollar has been in free-fall since 2007.

Last year, both China and Russia have questioned why the dollar should be the world’s reserve currency.  (Naturally, they were advocating for the ruble and yuan).

A new report from Morgan Stanley analyst Emma Lawson confirms what many had suspected: the dollar is firmly on its way to losing its status as the reserve currency of the world.

And just last week, the United Nations released a report concluding that the dollar should no longer be the world’s reserve currency because it is not stable enough. The dollar is down 5% over the past month, and even currency traders don’t see it as a safe haven any more.

There is certainly an element of economic competitiveness in those statements from foreign bodies and governments, but at the same time, Americans houldn’t be surprised that, in these touchy times, central banks want more of a measure of security than the dollar can afford right now – particularly when we’re running up an enormous deficit through the costs of stimulus programs and two simultaneous wars.”

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The US Dollar is losing reserve currency status because it is being over inflated to near worthless proportions, by being printed with wreckless abandon by PRIVATE CORPORATE BANKS.

If we do not take back the power to issue our own currency, as provided by the US Constitution, we will never escape the DEBT SLAVERY that occurs by allowing private central banks to loan us our own money at interest!  This currency black hole creates inflation and loss of value because every dollar “borrowed” comes with debt attached, and in order to pay the interest on the first dollar we have to borrow more dollars, again with more interest!  These bankers have run this same scam in other, less sophisticated countries.  Now they’re running it here.

These are real images of devalued, inflated currencies from the last 60 years.  Some so worthless that the people use them as wallpaper or simply throw them away.  Imagine a loaf of bread costing 200 billion dollars!  Thats what they pay in Zimbabwe.

DON’T BE A SUCKER!

Poor Mans Way To Prepare For Hyperinflation, Homelessness as a Lifestyle in California

The Dollar Bubble [video]